| Topic: |
Politics > Politics-USA |
| User: |
"Charles Farley" |
| Date: |
08 Jan 2005 04:27:34 PM |
| Object: |
US Economy Grew at Fastest Pace in 5 Years |
Associated Press
January 8, 2005
Labor report: Hiring in '04 highest in years
By Leigh Strope
WASHINGTON -- Employers hired workers in 2004 at the fastest pace in
five years, with overall payrolls rising by 2.2 million. December's
unemployment rate held steady at 5.4 percent.
The Labor Department reported yesterday that employers expanded their
payrolls by a net 157,000 in December, bringing the year's increase to
the highest level since 1999. For November, 137,000 net jobs were
added, which was revised 25,000 higher than the government initially
reported.
In the wake of the September 11 terrorist attacks, and two wars, there
are now just 122,000 fewer jobs than when Bush took office in January
2001. The Labor Department, however, estimates it will add another
236,000 jobs to the 2004 total when it makes its annual revisions next
month.
President Bush appears all but certain to avoid the fate of Herbert
Hoover: Ending a term with net job losses.
The service sector continued to spark overall hiring last month,
without help from retailers. The job growth was concentrated in the
health-care industry, which added a net 36,000 positions, and business
and professional services, which hired a net 41,000 workers.
As the holiday shopping season got in full swing, retailers ended up
shedding almost 20,000 jobs overall. Analysts note that the figures
are seasonally adjusted and subject to big fluctuations during that
time of the year.
"Because of retailers' trepidations about this holiday selling season,
they didn't do the usual amount of seasonal hiring," said Mayland, of
ClearView Economics.
The good news is the seasonal layoffs that occur this month and next
should be moderate, he said.
The housing market last year continued to trigger job growth. The
financial-services industry added a net 14,000 jobs last month and
140,000 net jobs for the year as mortgage interest rates remained low.
Real-estate employment was flat in December, but up 42,000 over the
year.
Construction companies continued to hire new workers for the 10th
straight month, increasing their payrolls by 13,000.
Government employment rose 29,000 last month, and 172,000 for the
year. Most of the growth occurred at the state and local levels,
especially in education. At the federal level, the U.S. Postal Service
continued to shed jobs.
http://seattletimes.nwsource.com/html/businesstechnology/2002145271_jobs08.html
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| User: "pain." |
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| Title: Re: US Economy Grew at Fastest Pace in 5 Years |
08 Jan 2005 06:15:02 PM |
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Charles Farley posted:
In the wake of the September 11 terrorist attacks, and two wars, there
are now just 122,000 fewer jobs than when Bush took office in January
2001.
How many more workers are now looking for jobs than when Bush took office?
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| User: "" |
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| Title: Re: US Economy Grew at Fastest Pace in 5 Years |
09 Jan 2005 08:28:40 PM |
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Glad about the job growth. Maybe the next step will be to break even
with growth in the size of the civilian labor force since Bush took
office.
December 2000
Civilian Labor force = 141,489,000
Nonfarm jobs = 131,953 ,000
December 2004
Civilian Labor force = 148,203,000
Nonfarm jobs = 132,266,000
(all stat's from www.bls.gov)
313,000 more jobs to go with a 6.7 million increase in the civilian
labor force.
All on top of a $7.6 trillion national debt.
The article states:
"President Bush appears all but certain to avoid the fate of Herbert
Hoover: Ending a term with net job losses."
Too late...
he's already overseen a term of net job losses, a distinction shared
only by Herbert Hoover.
Even if annual revision produces an additional 236,000 jobs on paper
for 2004, how does this (added to 313,000 jobs added since he took
office it would still mark less than a 1% increase) overcome 6.7
million increase in the civilian labor force (more than a 5% increase)
as a net figure?
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| User: "" |
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| Title: Re: US Economy Grew at Fastest Pace in 5 Years |
09 Jan 2005 05:06:34 AM |
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On 8 Jan 2005 14:27:34 -0800, (Charles
Farley) wrote:
Associated Press
January 8, 2005
Labor report: Hiring in '04 highest in years
By Leigh Strope
WASHINGTON -- Employers hired workers in 2004 at the fastest pace in
five years, with overall payrolls rising by 2.2 million. December's
unemployment rate held steady at 5.4 percent.
The Labor Department reported yesterday that employers expanded their
payrolls by a net 157,000 in December, bringing the year's increase to
the highest level since 1999. For November, 137,000 net jobs were
added, which was revised 25,000 higher than the government initially
reported.
In the wake of the September 11 terrorist attacks, and two wars, there
are now just 122,000 fewer jobs than when Bush took office in January
2001. The Labor Department, however, estimates it will add another
236,000 jobs to the 2004 total when it makes its annual revisions next
month.
President Bush appears all but certain to avoid the fate of Herbert
Hoover: Ending a term with net job losses.
but with a weaker dollar, and deficits
The service sector continued to spark overall hiring last month,
without help from retailers. The job growth was concentrated in the
health-care industry, which added a net 36,000 positions, and business
and professional services, which hired a net 41,000 workers.
As the holiday shopping season got in full swing, retailers ended up
shedding almost 20,000 jobs overall. Analysts note that the figures
are seasonally adjusted and subject to big fluctuations during that
time of the year.
"Because of retailers' trepidations about this holiday selling season,
they didn't do the usual amount of seasonal hiring," said Mayland, of
ClearView Economics.
The good news is the seasonal layoffs that occur this month and next
should be moderate, he said.
The housing market last year continued to trigger job growth. The
financial-services industry added a net 14,000 jobs last month and
140,000 net jobs for the year as mortgage interest rates remained low.
Real-estate employment was flat in December, but up 42,000 over the
year.
Construction companies continued to hire new workers for the 10th
straight month, increasing their payrolls by 13,000.
Government employment rose 29,000 last month, and 172,000 for the
year. Most of the growth occurred at the state and local levels,
especially in education. At the federal level, the U.S. Postal Service
continued to shed jobs.
http://seattletimes.nwsource.com/html/businesstechnology/2002145271_jobs08.html
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| User: "Bill" |
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| Title: Re: US Economy Grew at Fastest Pace in 5 Years |
09 Jan 2005 07:22:53 PM |
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Yes, and with record high UNEMPLOYMENT that does not show up in the
unemployment figures because they have run out of unemployment benefits.
The economy is being artificially pumped up by deficit spending. With
Federal deficits mounting out of control and private
saving the lowest on record and almost zero we are headed for an economic
crack up in the near future.
--
Bill
<webmaster@mistral.net> wrote in message
news:1105268785.88902a49348b7a3b781e7bf37973cca9@teranews...
On 8 Jan 2005 14:27:34 -0800, (Charles
Farley) wrote:
Associated Press
January 8, 2005
Labor report: Hiring in '04 highest in years
By Leigh Strope
WASHINGTON -- Employers hired workers in 2004 at the fastest pace in
five years, with overall payrolls rising by 2.2 million. December's
unemployment rate held steady at 5.4 percent.
The Labor Department reported yesterday that employers expanded their
payrolls by a net 157,000 in December, bringing the year's increase to
the highest level since 1999. For November, 137,000 net jobs were
added, which was revised 25,000 higher than the government initially
reported.
In the wake of the September 11 terrorist attacks, and two wars, there
are now just 122,000 fewer jobs than when Bush took office in January
2001. The Labor Department, however, estimates it will add another
236,000 jobs to the 2004 total when it makes its annual revisions next
month.
President Bush appears all but certain to avoid the fate of Herbert
Hoover: Ending a term with net job losses.
but with a weaker dollar, and deficits
The service sector continued to spark overall hiring last month,
without help from retailers. The job growth was concentrated in the
health-care industry, which added a net 36,000 positions, and business
and professional services, which hired a net 41,000 workers.
As the holiday shopping season got in full swing, retailers ended up
shedding almost 20,000 jobs overall. Analysts note that the figures
are seasonally adjusted and subject to big fluctuations during that
time of the year.
"Because of retailers' trepidations about this holiday selling season,
they didn't do the usual amount of seasonal hiring," said Mayland, of
ClearView Economics.
The good news is the seasonal layoffs that occur this month and next
should be moderate, he said.
The housing market last year continued to trigger job growth. The
financial-services industry added a net 14,000 jobs last month and
140,000 net jobs for the year as mortgage interest rates remained low.
Real-estate employment was flat in December, but up 42,000 over the
year.
Construction companies continued to hire new workers for the 10th
straight month, increasing their payrolls by 13,000.
Government employment rose 29,000 last month, and 172,000 for the
year. Most of the growth occurred at the state and local levels,
especially in education. At the federal level, the U.S. Postal Service
continued to shed jobs.
http://seattletimes.nwsource.com/html/businesstechnology/2002145271_jobs08.
html
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