[SSRI-Research] 585,000 Jobs Lost On Bush Watch--Worst Since Herbert Hoover, Great Depression

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--- SSRI-Research wrote:

 

 

> SSRI-Research

> Sat, 9 Oct 2004 12:11:24 -0400

> [sSRI-Research] 585,000 Jobs Lost On Bush

> Watch--Worst Since Herbert Hoover, Great Depression

>

>

> [ --- Bush = Pharma.... Your vote counts. You

> count. VOTE. ]

>

> From Earth Changes TV

>

> National News

> 585,000 Jobs Lost On Bush Watch--Worst

> Since Herbert Hoover, Great Depression

> By Reuters, Glenn Somerville

> Oct 8, 2004, 17:11

>

>

http://www.earthchangestv.com/secure/2004/printer_4307.php

>

>

>

> WASHINGTON

>

> After including the projected change, it

> appears that about 585,000 jobs have been lost since

> President Bush took office in January 2001.

>

>

>

>

> U.S. businesses added 96,000 jobs to

> payrolls in September, the government reported on

> Friday, a weaker-than-expected total that was

> expected to sharpen a presidential debate later in

> the day over the economy's direction.

>

> The Labor Department report, showing the

> unemployment rate in September held steady at 5.4

> percent, will provide fodder for the second debate

> between President Bush and Democratic Presidential

> contender Sen. John Kerry. It was the final jobs

> report before the Nov. 2 presidential election with

> polls indicating that jobs are of paramount concern

> to voters.

>

> The September job-creation total came in

> below Wall Street economists' forecasts for 148,000

> new jobs. The department also revised down its

> estimate of August new jobs to 128,000 from 144,000

> it reported a month ago.

>

> Most jobs in September came in the

> services sector, while manufacturers shed 18,000

> jobs last month after increased hiring in the two

> prior months.

>

> Though four hurricanes swept through the

> Southeast during August and September, which Labor

> said likely held down employment growth, it

> concluded the impact was minimal.

>

> The Bureau of Labor Statistics

> commissioner, Kathleen Utgoff, said " we do not

> believe the net result of...(the hurricanes)

> materially changes the national employment

> situation, but we cannot precisely quantify the

> weather effects. "

>

> Analysts described the jobs number as

> weak.

>

> " It is a disappointing number, it

> suggests the economy is still not growing

> particularly quickly, " said economist David Sloan of

> 4Cast Ltd. in New York. The U.S. Federal Reserve has

> raised short-term interest rates three times this

> year -- from 46-year lows in June -- to 1.75 percent

> and analysts said the jobs report left room to keep

> raising them but not by much.

>

> " For the Fed, I think our view has been

> for a while that the next move will be the last one

> and that the fed funds rate stays at 2 percent until

> the end of 2005, " predicted Jason Daw, a foreign

> exchange strategist at Merrill Lynch in New York.

>

> The dollar dropped sharply against the

> euro after the number was issued, apparently in the

> belief it raised questions about the durability of

> U.S. economic growth, while bond prices increased.

>

> Labor also said that, according to

> preliminary estimates, the economy added about

> 236,000 more jobs than previously thought in the

> year ended March 2004, and it will incorporate the

> change into benchmark revisions issued in February.

>

> After including the projected change, it

> appears that about 585,000 jobs have been lost since

> President Bush took office in January 2001.

>

>

>

> Earth Changes TV

>

>