October 8, 2004
September's job growth weaker than expected
The nation's payrolls expanded by a less-than-expected 96,000 in September
and unemployment was unchanged, according to today's report from the Bureau
of Labor Statistics. Over the past four months, payrolls have grown by an
average of 101,000 per month, well below the growth rate needed to
significantly lower unemployment and absorb the considerable degree of slack
remaining in the labor market (see JobWatch.org for a discussion of
benchmarks for employment growth). Importantly, this recent trend of
diminished growth is well below the average payroll gains of 225,000 per
month which prevailed in January through May of this year. For the private
sector (excluding government), the deceleration is even stronger: only a
monthly average of 77,000 jobs gained in June through September compared to
225,000 from January through May.
-cont.-
http://www.epinet.org/content.cfm?id=1909
--
Even though the Republicans are typically the party associated with big
business, it turns out that the market returns generated under Democratic
administrations have outperformed those of Republican administrations.
http://polls.yahoo.com/public/archives/57019568/p-quote-371
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