Much like the Bush Administration's justification for the War in Iraq,where news that fit a preconcieved notion for war was used while news that did not was ignored, the googling wingnuts are so desperate for a shred of news to portray their bumbling leader as a great economic thinker that they sieze on any positive number to hold up and wave about saying "see!!" you have it all wrong! We're in a great economy here!
Never mind that the FIRST tax cut was done in 2001 " because it's your money and you deserve some of the surplus back-errr to stave off a recession ----errr, to create jobs and pull us out of a mild recession" Subsequently the second tax cut was done as a "job creation tool" what with millions out of work.
"If there was anything disappointing about Friday's report, in fact, it's that job growth hasn't been more robust, given the strength of the economy and a wave of fiscal and monetary stimulus from the government and the Federal Reserve.
"To put this in perspective, a couple of years into recovery, we should be seeing 250,000 to 300,000 new jobs per month," said Lakshman Achuthan, managing director of the Economic Cycle Research Institute. "We're not there yet."
What's more, the recovery in the labor market has not yet caught up with wages, critical to the strength of consumer spending, which fuels more than two-thirds of the economy. The Labor Department said average hourly wages rose just a penny, or 0.1 percent, to $15.46 from $15.45 in September, when wages were flat.
About 8.8 million people were unemployed in October, the department said, 2 million of whom have been out of work for 27 weeks or longer.
Temporary help services payrolls rose by about 17,000 jobs. Many economists believe this is a hopeful sign, since companies will often hire temps before making permanent hires. Other economists note, however, that temp payrolls have risen several months in a row and suggest some businesses may be using temp workers to avoid paying benefits. "
So welcome to the dancing good news happy land where 126,000 jobs are created among 8.8 million unemployed, say the wingnuts!
Oh,well, it keeps your mind off Iraq, doesn't it?
Things are pretty damn happy dancy la la pink fluffy cloud land over there , too.
(
http://www.cnn.com/2003/BUSINESS/11/07/jobs.october/index.html)
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