March Job Growth Stuns Markets

[Ziroc]

Anytime we have good news for Bush, we hardly ever see it here. So... Here you go.


http://www.reuters.com/newsArticle.j...toryID=4741374

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By Tim Ahmann
WASHINGTON (Reuters) - U.S. employment rose last month at the fastest pace in nearly four years as hiring jumped in a wide array of industries, the government said on Friday in a surprisingly strong report that stunned financial markets.

The report, which showed the labor market finally making a decisive break out of a long slump, buoyed the re-election hopes of President Bush, who has been blasted by Democrats over the jobs lost on his watch.

Markets judged it brought nearer the day the Federal Reserve would raise overnight interest rates from 1958 lows, but analysts said the central bank would have to see a string of good jobs gains before pushing rates up.

The Labor Department said non-farm payrolls climbed a steep 308,000 in March, the biggest gain since April 2000 and well above the 103,000 rise expected on Wall Street.

The unemployment rate, which is determined by a survey separate from the jobs tally, ticked up to 5.7 percent from the two-year low of 5.6 percent in January and February. But economists largely dismissed the rise as insignificant.

"All in all, this is a very strong report," said Kurt Karl, head of research at Swiss Re in New York. "It bodes well for the economy going forward."

The big jump in payrolls stood in sharp relief to the average gains of around 75,000 new jobs in the prior six months. It trimmed the number of jobs lost since Bush took office to a still-hefty 1.8 million.

Administration officials said the report showed the president's tax-cut policies were helping the economy. (Bullshit)But Democrats said the data did little to erase a record of economic mismanagement.(/Bullshit)

U.S. bond prices plunged -- the benchmark 10-year issue posted its biggest move in over five years before retracing -- as investors were caught flat-footed by the payrolls strength.

The dollar shot higher and stock prices rose. The blue chip Dow Jones industrial average closed up 97 points at 10,470.
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Regardless of your political views, this is VERY good news!!

I personally feel that the Tax cuts helped a bit. And you must admit, We've gotten back on our feet from 9|11 almost.. The Democrats blame bush for the economy, but MUCH of it was not his fault, 9|11 happened, and SLAMMED the economy down so fast, many large companies died--and many like TYCO were busted for cooking the books.

[skywalker]

Yeah, Bush needs all the help he can get!

Mark

[Ziroc]

Originally posted by skywalker: Yeah, Bush needs all the help he can get! Mark

You can't stand it can ya? And one reply. No one likes good news these days?!?! [img]smile.gif[/img]


Damn though, Gas here is 1.81 a gallon. How much is it where you're at? I still tell people we're very lucky, because Europe pays $3-$5 a gallon.

[Night Stalker]

I actually loved the good news! The Market was VERY friendly yesterday! [img]graemlins/heee.gif[/img]

[The Hierophant]

The big jump in payrolls stood in sharp relief to the average gains of around 75,000 new jobs in the prior six months. It trimmed the number of jobs lost since Bush took office to a still-hefty 1.8 million.

I'm not saying widespread job losses are anyone's fault in particular, but I think the above figure is still very important. A 308,000 job gain is great, but that's still only about 16% of the remainder of the 1.8m 'lost jobs'.

The job market is making a comeback, but the job 'defecit' is still large. Not that it has a huge amount to do with presidential policy anyway.

[ 04-03-2004, 10:23 PM: Message edited by: The Hierophant ]

[skywalker]

Listen Ziroc. As is known by anyone who has read my thread in General Discussions, I finally found a job after 3 months of unemployment. I personally know what it's like to look for work in this market and it isn't easy.

There are many ways to look at the employment numbers and many ways to use them.

What I've seen from Bush is that he will use anything he can to spin the news to win votes. This is not unlike any other politician.

I can like these numbers, because it means more people have found a job and can now help support their families and feel better about themselves. I can be pleased because it helps my investments yield better returns. I can like it because any good news is better than dealing with the wars and attacks around the World.

I can dislike it because Bush can use the news to raise his poll numbers and now I have to listen to Republicans on TV bash people who oppose him. I can dislike the numbers because it personally causes me anxiety that we will have another 4 years of him.

Well, y'know? Everything is not black and white. There are many shades of gray, but all we get is the shade that whoever tells the story wants you to see.

Maybe you think I want doom and gloom for America. I have so much at stake for my future that if the USA fails, I'm screwed. There is a balance here, one that I try to keep from teetering in one direction. It is a shame that many times the policies of this President so anger me that I lean towards the darkside hoping he will be gone and then we can lean toward the lightside. I don't know if America could survive 8 months in the dark. I don't know if it is worth it to keep a man out of office. I do know, for the good of America, we need some kind of change. I'd hate to see the fall of the America due to forces that we can change, but fail to do so.

America was a country that most of the World had respect for and due to the President's action I do not think this is still the case. Some say "Who cares, we don't need anybody else!", I think we do.

Mark

[Oblivion437]

So, take all good and bad news with a grain of salt, and disect the individual elements of interest. Not a damn job where I live, and I'll have to either hoof it or get a ride somewhere to get a job roughly 50 or 60 miles from where I live...

[Timber Loftis]

Generally, it has been a jobless economic recovery. the recovery numbers to correlate with the new jobs. Bodes well for stock owners and fat cats, but does not help the American on the street.

As one example, a company in Illinois has offered a position in my field, and 4 -- yes, 4 -- headhunters have contacted me about it. Of course, I'm applying, but the evidence indicates job growth is minimal.

[Skunk]

I think that you would get on well with my wife Ziroc. This is what she said to me a couple of years ago when she bought a new coat:


Her: "Hey I saved us 200 EUR by buying this coat in the sales! It was originally 600 EUR, but was marked down to 400 EUR! Am I good or what?!"
Me: "Ummmm.... no, you just cost us 400 EUR on a coat that you didn't need"
Her: "Dam! You never see the positive side of things!"
Me: "That's because there are 400 negative things that just appeared on the bank statement"

When the jobless figures are lower than when Bush came to office, then you have positive news about the economy that Bush can claim credit for.

[Ziroc]

Originally posted by skywalker: Listen Ziroc. As is known by anyone who has read my thread in General Discussions, I finally found a job after 3 months of unemployment. I personally know what it's like to look for work in this market and it isn't easy. There are many ways to look at the employment numbers and many ways to use them. What I've seen from Bush is that he will use anything he can to spin the news to win votes. This is not unlike any other politician. I can like these numbers, because it means more people have found a job and can now help support their families and feel better about themselves. I can be pleased because it helps my investments yield better returns. I can like it because any good news is better than dealing with the wars and attacks around the World. I can dislike it because Bush can use the news to raise his poll numbers and now I have to listen to Republicans on TV bash people who oppose him. I can dislike the numbers because it personally causes me anxiety that we will have another 4 years of him. Well, y'know? Everything is not black and white. There are many shades of gray, but all we get is the shade that whoever tells the story wants you to see. Maybe you think I want doom and gloom for America. I have so much at stake for my future that if the USA fails, I'm screwed. There is a balance here, one that I try to keep from teetering in one direction. It is a shame that many times the policies of this President so anger me that I lean towards the darkside hoping he will be gone and then we can lean toward the lightside. I don't know if America could survive 8 months in the dark. I don't know if it is worth it to keep a man out of office. I do know, for the good of America, we need some kind of change. I'd hate to see the fall of the America due to forces that we can change, but fail to do so. America was a country that most of the World had respect for and due to the President's action I do not think this is still the case. Some say "Who cares, we don't need anybody else!", I think we do. Mark

Listen Skywalker, if the numbers were BAD, you would be BLAMING Bush, and you know it. Hell, the media do it all the time.. You can have it one way. And you are so very right, it's not black and white, and yeah, we need change--for one, we need to resolve this Iraq war. QUICKLY... I see things slowly falling a part, and I don't know if Bush would really leave Iraq.. It worries me as well, the future for the United States, as I live here, I would be screwed too Choc would revolt, and I would be dead for sure.

Seriously though, you really believe that one person changed the way the entire World's outlook of the United States in just four years? And that the everything we've done before that is moot? Every President makes mistakes, heck, Look at Clinton...