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BAD NEW EMPLOYMENT CONTINUES
Following earlier tragic employment news, the Atlanta Journal-Constitution reports: Jobs Data Worst in a Year.
This involves 51,000 new jobs in one month. Hit the link.
Well, the bastards overlooked the really bad news: gas prices are falling.
Just think of the dire economic consequences of that. It’ll likely lead to low inflation which means that the COLA (cost of living adjustments) for senior citizens social security won’t increase as much. ‘Course, if prices aren’t rising, they don’t need higher payments but let’s not quibble. It’s bad news. Bad.
Or sumpthing.
Posted by SMGalbraith on 2006 10 08 at 04:31 PM • permalinkThere is plenty of reason to believe that new BLS seasonality methodology enacted for the September numbers understated the actual jobs created. If they reported under the old method it probably would have been about 100,000 jobs, which is close enough to the consenus estimate to qualify for a gimme.
Anyway unemployment stayed at, what, 4.6%? Not exactly hard times.Posted by Matt in Denver on 2006 10 08 at 05:37 PM • permalinkHey SMGalbraith, as for low gas prices, you know we’re on the precipice when Bob Lutz himself steps up at the Paris Auto Show to advocate more hybrids and weeniemobiles from GM. That’s the contraindicator I needed to figure oil prices were going to stay down.
Anyone else wonder why there’s even a Paris Auto Show? Makes as much sense a Delicious German Food Festival.
Posted by Matt in Denver on 2006 10 08 at 05:45 PM • permalinkActually, if you check out Bloomberg.com (it may not still be there), you’ll find that the BLS’ annual re-statement of employment for the year (which ended on either Aug 31 or Sep 30, I forget which, if I ever knew) had to *ADD* around 700,000 jobs for the previous year that had been previously uncounted. In other words, on average, each month’s jobs data had been understated by 55,000 or so jobs. Hmmmm. Didn’t see that in the NYT or USAtoday or the LAT, now did we? I wonder why.
Posted by JorgXMcKie on 2006 10 08 at 05:58 PM • permalinkJorg, no kidding. Wanna bet the September figure gets restated in a year or two? They seem to guess light pretty often.
In order for it to get in the MSM it would ned to have been mentioned in a Foley IM.
Posted by Matt in Denver on 2006 10 08 at 06:15 PM • permalinkMakes as much sense a Delicious German Food Festival.
Ever had hot slaw?
Posted by Rob Crawford on 2006 10 08 at 06:29 PM • permalinkIn my opinion this is just another example of how the press is trying to find anything it can, to make those who are gullible enough to believe what they write; think the economy is headed south. Nice try, but no cigar.
Yes this is true, they are trying to find anything that will get the
gullibledumb shits in this country to believe what they write....and we have a ton of dumb shits...58,000,000 there abouts voted for secret hat, dumb shit John Kerry last National election.Their trying, just make light that cigar. Hope not, but it just might.
Well, to the extent any administration can “create jobs”, this one has. The only way to do this is by keeping more money in the private sector (ie “tax cuts") to foster growth. Since the idea of tax cuts resulting in a vibrant private sector is anathema to socialists (it spreads its rewards unequally don’t you see?), they are not going to ackowlege its success. If they do, they are finished as a political force.
Memo to the Left: the market is the only proven method to lift the human condition.
Posted by Vanguard of the Commentariat on 2006 10 08 at 07:12 PM • permalinkAnyway, there’s no doubt the vast majority of those jobs are of the McJobs type, paying minimum wages, ripping the heart out of the working class and generally resulting in vas numbers of new working poor.
All the while of course the fat cats get fatter.
I blame John hoWARd!
(Phew...better go have a coffee now...I seem to have come down with that dreadful affliction Moonbatismus Mondayitis ;-)
...the Atlanta Journal-Constitution reports...
Now you’re talking about my local fish wrapper. The Arab Jingoistic-Constipation. McKinney’s Cheerleaders and home of the wacky liberal Vent.
Here in my little Atlanta suburban county the unemployment rate is 2.9% and has been under 3.3% over the past five years. Over 300 subdivisions are currently under construction and the waiting time for any restaurant in the area is one hour, minimum. Illegal Mexicans drive around here in SUVs - with wheel spinners. We don’t even try to enter the local stores between Thanksgiving and Christmas.
...but the proportion of lower-paying jobs has slipped, according to Rajeev Dhawan, Director of the Economic Forecasting Center at Georgia State University.
GSU is THE premier communist front in the state. Classes are held in downtown urban renewal property. They didn’t even have dorms until the ‘96 Olympics. Winos are used to pad class sizes. GSU is a joke. A bad one.
The Atlanta area, even the city itself, has one of the strongest economies in the US, or the world for that mater. Staff writer Michael E. Kanell, and the editors who commissioned his hit job, keep trying to convince the locals that the sky is falling. But anyone who’s head isn’t up their behind can just look around to see the lie.
Anyway, there’s no doubt the vast majority of those jobs are of the McJobs type, paying minimum wages, ripping the heart out of the working class and generally resulting in vas numbers of new working poor.
Nah, if they’re all McJobs, it either means that formerly unemployed people are now earning money (notwithstanding that it might not be much, it’s still got to be more than the benefits they previously got from the Bushitler junta and its local cronies...well, possibly excluding California), or the jobs are being filled by people who previously aspired to middle-classdom, meaning that fewer people will now be moving up the economic ladder into above-average territory. Or do you trust the working class not to desert its liberal betters if given half a chance?
Either way, you get more people congregating in that “not Third-World-terrible, but not all that good either” economic state that liberals seem to think everybody should be aspiring to.
And besides, if the great Communist utopia ever descends upon the US, work won’t be a right, but an obligation, so McJobs are a good start to re-educating the lazy fringes of society. Put each artist behind a Maccas counter today and watch utopia approach that much faster!
All the while of course the fat cats get fatter.
Well, sure, some people are still getting richer, but at least McJobs are stopping additional people from getting rich, too, so lefties should love them, not loathe them. Baby steps, baby steps. You can’t just go executing everybody who earns six-figure money per year right from the start.
/sarcasm
Hot slaw? That must have been what was all over the stairwell of my parking garage.
But my point is completely proven when more people step up for hot slaw than the idea of a “Paris auto show.”
Posted by Matt in Denver on 2006 10 08 at 09:53 PM • permalinkTim, could you do an expose’ on Eastern suburb women who shop and abuse shop girls as punching bags for abuse prob. because they’re bored or just bitchy?
My friend works in one there, and she says the eastern suburb women. ( sth african are bitches and the bellvue hill set are punishing and they rort the system and abuse the shop retail girls who work in her store.)
Curiously, all 51,000 of those new jobs were for Imams, Halal meat chefs, burkha seamstresses, and makers of automobile matches.
Posted by Shaky Barnes on 2006 10 08 at 11:41 PM • permalinkOf course one could simply apply the following headline to the same story, instead:
Jobs Data Best in Five years
Unemployment Rate at Lowest Level since July 2001Hmmm.... wonder why they didn’t do that?
Posted by Shaky Barnes on 2006 10 08 at 11:53 PM • permalinkAnd more links on that here too, Shaky, via NewsBusters:
http://newsbusters.org/node/8190Posted by andycanuck on 2006 10 09 at 03:16 PM • permalink
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Well, but when Clinton was in office, um…
I have no point here. Just like the reporter.