Employment Numbers Without the Spin (Bush's Missing 11.3 Million Jobs)

[mhr]

Comstock Partners, Inc.

Employment Numbers Without the Spin
March 10, 2005

Last Friday the report that February payroll employment increased by a monthly 262,000 was greeted with great enthusiasm by the stock market and most economists. This was the 39th month since the official recession bottom in November 2001. The following is an attempt to put this number into perspective without the spin.

In the previous five expansionary economic cycles the average increase in employment over the first 39 months was 10.1%. In the current cycle the increase is 1.5%.

If employment had climbed by 10.1 % since November 2001, we would have added 13.2 million jobs instead of the 1.9 million actually reported. That’s a difference of 11.3 million jobs.

If we did add 13.2 million jobs on the current cycle, the average monthly increase would have amounted to 338,000. Instead the monthly average increase has been only 50,000, and we have exceeded 300,000 in only three separate months out of the 39.

Snip ......

http://www.comstockfunds.com/screenprint.cfm?newsletterid=1165

[Tux]

1. Bush lied

What else is new?

[mhr]

2. Kick

eom

[struggle4progress]

3. and again

:kick: