Payroll Growth; Economy Looks Good

[Darkdale]

Unemployment steady at 5%

WASHINGTON - America's payrolls snapped out of a two-month hurricane-induced funk in November and grew by 215,000, the most since July. The unemployment rate held steady at 5 percent.

The fresh snapshot of the jobs situation by the Labor Department on Friday suggested that employers were feeling much better about hiring now that energy prices have retreated from record highs and the energy supply and transportation disruptions from the trio of Gulf Coast hurricanes are easing.

The pickup in employment in November came after two dreary months where hiring turned lethargic because of the devastating storms.

In October, payrolls grew by just 44,000, even less than the government first reported a month ago. But September's showing — a month that bore the brunt of Katrina, the most costly natural disaster in U.S. history — showed that jobs actually grew by 17,000, according to revised figures released Friday. That's an improvement from the loss of 8,000 jobs previously reported.

While wage growth is good for workers, increases — if they are sustained — would be worrisome to investors and economists who fret about inflation pressures picking up.

In encouraging news for job seekers, the report showed that the average time that the unemployed spent searching for work in November was 17.7 weeks. That was down from an average 18.1 weeks in October and was the best showing since July.

 

[Darkdale]

President Bush will be speaking on the excellent economic forecasts on Friday (today), December 2 On C-SPAN at 10:45am ET. Maybe on other networks as well. That's in a few minutes.

 

[michel]

Sounds much as if we are running parallel.

http://www.bankofengland.co.uk/
Current Interest Rate
View decisions and minutes</SPAN>

4.5%
Next due: 8 Dec '05Current Inflation (CPI)

2.3%
Next due: 13 Dec '05Inflation Target
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2.0%
Latest Inflation Report
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Nov '05
Next due: 15 Feb '06

Britain's jobless rate now stands at 4.7%
Average earnings in the UK rose by 4.8% in March, raising fears that wage pressures could drive up inflation.

 

[Terrywoodenpic]

President Bush will be speaking on the excellent economic forecasts on Friday (today), December 2 On C-SPAN at 10:45am ET. Maybe on other networks as well. That's in a few minutes.

How is it that the reports are so fickle?
Up one day down the next.
The markets are the same, up and down on a whim.
They cannot be reporting reality or they would be more stable.
The canny with money win either way, they make money as long as the market is moving up or down.

Terry____________________
Amen! Truly I say to you: Gather in my name. I am with you.

 

[Darkdale]

How is it that the reports are so fickle?
Up one day down the next.
The markets are the same, up and down on a whim.
They cannot be reporting reality or they would be more stable.
The canny with money win either way, they make money as long as the market is moving up or down.

Terry____________________
Amen! Truly I say to you: Gather in my name. I am with you.

Unemployment and economic growth have been very stable over the last two years, with a quick down and up directly after Katrina. The media would have you believe the economy is awful, because they don't want you to think of the Republicans as good for the economy, which they aren't... but only because they don't have spending under control. The economy would be even more stable, if, like under President Clinton, our congress had controlled, responsible spending. But Bush is way more liberal than Clinton when it comes to spending and is as irresponsible as Presidents FDR and Johnson.

But, the economy is better now than it was under Clinton in many different ways (on average). It is amazing (and democrats should give this administration a great deal of respect for this) that the economy is doing this well after 9/11, two wars and four devastating hurricanes, high oil prices and the complete devastation of one of our most active ports. If there were a democrat in office right now, Democrats would be blowing trumpets and singing songs of joy and praise; but the media is rank with liberal hypocrisy.

 

[Ardent Listener]

Next time post some bad economic news and watch the replies roll in.

 

[jobalexander]

I know that now is a tough time for the believer, so I just hope that life will get easier for the taxpayer and Christian.

 

[Underhill]

Saying the economy is good right now is like saying a critical cancer patient is having a good day.

We have some major looming issues (the deficit for example) that make possitive reports short term at best, lies at worst.

Its not so much a political thing tho. Both sides have screwed us on this one. It's more the nature of democracy. It's so much easier for someone looking forward to elections to spend than to cut. To cut taxes rather than raise them.

It's like the boy who called wolf however. We've heard about it for so long everybody just figures it's not a problem. Well sooner or later it will be. That's a certainty.

On a side note. A tough time for a believer? The chritian right is controlling about everything in this country. If it's a tough time it's hard to blame anyone but your own people.