September Job Growth Slower Than Population Growth

I guess I was being paranoid:

WASHINGTON - Companies added 96,000 jobs to their payrolls in September, fewer than economists forecast for the last employment report before Election Day. The figures underscored the modest hiring pace that has become an issue in President Bush's re-election bid. (...)

"I wouldn't want to be in President Bush's shoes. He had better prepare himself for an onslaught," said private economist Ken Mayland of ClearView Economics, noting Friday night's second presidential debate. "The reality is that a 96,000 increase in a work force of a 131 million base is an anemic rise, and is in no way a satisfactory increase."

The economy should be creating 250,000 jobs or more per month by now, he said. Economists predicted that about 150,000 new jobs would be added in September.

Then again, it is easy to understand why I am paranoid:


Tags: Labor (all tags)

Comments

8 Comments

screen shots
did you dummy the 300,000, or did MSNBC run it?
by fatbear 2004-10-08 07:00AM | 0 recs
Re: screen shots
MSNBC actually had it like that at first.
by Chris Bowers 2004-10-08 07:17AM | 0 recs
Lawrence Kudlow on jobs
That is an actual screen shot. It has also been posted at dailykos. MSNBC corrected it later.

If MSNBC is going to pimp Kudlow on outsourcing and jobs a little disclosure seems to be in order. I specifically recall Kudlow saying on Kudlow and Cramer that the Bush dividend tax cuts would do very little to increase jobs. Bush tax cuts were NOT geared towards increasing jobs, even though he approved the dividend tax cuts for other reasons.

Kudlow is capable of being honest on occasion, just not this close to an election.

On the matter of whether or not the Bush administration actually favors outsourcing, Lou Dobbs named a group in his book "Exporting America". I am at work and don't remember the name, but it had former advisors to both Cheney and Bush on the board. They made the argument that it is unconstitutional for states to pass laws limiting or restricting outsourcing.

Their argument was that when states passed laws restricting outsourcing they were interfering with U.S. foreign policy. It seems to me that linking the Bush administration to a group that makes this kind of outrageous argument would be devastating.

by Gary Boatwright 2004-10-08 07:16AM | 0 recs
Reality control
The real news has been killing him, but this has been an excellent week for Bush in fake news.

It's a little creepy. All the fake test stories in the past week make it seem almost as if the Bush spin fantasy is actually spilling over in tiny ways into the real world. Very Orwellian. Krugman's column Ignorance Isn't Strength talks more about that.

This has allowed them to engage in what Orwell called "reality control." In the world according to the Bush administration, our leaders are infallible, and their policies always succeed. If the facts don't fit that assumption, they just deny the facts.

As a political strategy, reality control has worked very well. But as a strategy for governing, it has led to predictable disaster. When leaders live in an invented reality, they do a bad job of dealing with real reality.

God, I hope this is all going to be over soon. Can you imagine where we would be if the net weren't quick to jump on stuff like this? But thank goodness -- Al Gore's Internet saves the day once again.

by drewthaler 2004-10-08 07:32AM | 0 recs
Forbes 400
I was also working on a post last night about the Forbes 400 and got sidetracked.

The website doesn't go back that far, but in "Wealth and Democracy" Kevin Phillips has a 1982 list that only has about 18 billionaires. By 1996 they were up to I think 80, and Phillips says that the top 1% had 10 times as much wealth as they had in 1982.

Billionaires had a rough patch because of the .com meltdown and only held their own at about 80 billionaires between 1996 and 2000.

Even the Forbes 400 shows that from 2000 to 2004 the number of billionaires increased to over 400.
We now have at least four times as many billionaires as a result of the Bush tax cuts, but working families are barely holding even.

How many more multi-billioniares do we need before some of it starts to trickle down to hard working middle income families?

by Gary Boatwright 2004-10-08 07:52AM | 0 recs
Your jobs number was too high
only 59,000 of those jobs were in the private sector.
by Abby 2004-10-08 09:42AM | 0 recs
The real scary thought
I say this as someone who desperately wants the economy to rebound (although the failing economy hurts bush...Kind of a catch 22)...We were all fearing a trumped up jobs report...What if this was a trumped up report?  They can't overinflate too much or the BLS loses all credibility.  They probably can't handle an adjustment of more than 50-100K jobs.  So, these numbers may actually be worse than what was published.  Things are getting worse and if the monkey is re-elected, this country will be in the toilet further.    
by yitbos96bb 2004-10-08 01:01PM | 0 recs
Halliburton
I wonder if some of these jobs are the people Halliburton is sending to Iraq?
by yitbos96bb 2004-10-08 01:02PM | 0 recs

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