Let the good times roll! -- 337,000 new jobs in October

[Sava]

Tax cuts meet October target, cumulative impact falls far short
The October job growth of 337,000 jobs exceeded the Bush Administration's projections by 31,000. However, the overall projection that 4,896,000 jobs would be created over the last 16 months is not close to having been realized. In reality, since Bush’s “Jobs and Growth” tax cut plan took effect, there are 2,738,000 fewer jobs than the administration projected would be created. In fact, job creation failed—often by a large margin—to meet the administration's projections in 13 of the past 16 months. For a further analysis, go to JobWatch.

from http://www.epinet.org/ The Economic Policy Institute.

Hooray for Bush! He failed to meet his own job creation estimates by 2,738,000...

[Drake Tungsten]

Sorry, Herbert. The record is still yours...

[pchang]

Of course, he was a Repulican.

[Dis]

Hoover is underrated

[pchang]

The units for sucking should be named after him.

[Dis]

Originally posted by pchang
The units for sucking should be named after him.

our local power plant attraction is named after him. The original name was Boulder.

[el freako]

Just to show the marked turn-around in the fortunes in the labour markets of Europe and America...

Since 2000 the 'sluggish' Euro Zone has created 3.9m jobs.

[DanS]

Good for the Eurozone!

[el freako]

Actually it looks quite incredible when you look at job creation relative to population.

Over the last 10 years for every 10 people added to the population in the US 5 jobs have been created (30m rise in population, 16m rise in employment)

whereas in the eurozone 11 jobs have been created for every 10 new people (11m population rise 12m new jobs)

(edit: new population figures for eurozone)

[MrFun]

Re: Let the good times roll! -- 337,000 new jobs in October

Originally posted by DanS
Oh... yeah...

Revisions for the August and September mean that 450,000 new payroll jobs were announced today.

Yeah -- it's always exciting to know that prosperity will come with more people eeking out a sub-standard living now in the new diner, garbage truck driving, and gas station jobs.

[Dauphin]

Originally posted by el freako
Actually it looks quite incredible when you look at job creation relative to population.

Over the last 10 years for every 10 people added to the population in the US 5 jobs have been created (30m rise in population, 16m rise in employment)

whereas in the eurozone 11 jobs have been created for every 10 new people (11m population rise 12m new jobs)

(edit: new population figures for eurozone)

Is that (potentially) working population?

The demographics would partially skew comparison up or down if the growths were different in respect of the retired/young vs middle population.

[Master Zen]

Originally posted by DanS
You guys are funny. Wailing. Gnashing teeth. Beating of breasts. All for 450,000 new jobs!

Wow, you really are an economist. Gloating over every figure without looking at the big picture.

[pchang]

Garbage truck drivers make a fair amount of money.

[Ned]

Originally posted by DanS


If I didn't know any better, I would think that the announcement of this by left-leaning Labor Department staff right after the election was politically motivated.

You know Dan, I wouldn't have known they were left-leaning until this happened.

[Ned]

I presume that van Buren also presided over a net job loss as he forced the country into its worst depression ever by trying to balance the budget and pursue tight money, just as Kerry advised, during a recession.