more good economic news
Payrolls Stage Unexpected Slide
The U.S. economy suffered a surprise 101,000 jobs drop in December, the government said on Friday, underscoring gloom among retailers and other employers and raising the political stakes for President Bush as he touts a $674 billion stimulus plan.
WaPo: Payrolls Tumble in December
The U.S. jobless rate last month remained at its eight-year high of 6 percent while the number of workers on private industry payrolls fell to its lowest level since the recession began in early 2001, the Labor Department reported today.
Analysts said those figures, plus downward revisions in earlier estimates of payroll employment in October and November, were evidence that even though the economy is growing employers aren't hiring.
Companies Slash 101,000 Jobs in December
The nation's unemployment rate held steady at 6 percent in December as a dismal holiday season for retailers and manufacturers cost over 101,000 jobs, the sharpest loss in 10 months.
Meanwhile, Cheney seems to have seen which way the economy is heading, and is attempting a preemptive strike: Cheney Warns of Slowdown if Tax Cuts Stall
Oh, and let's not forget the recent Bush administration decision to cease publishing the Labor Department's Mass Layoffs Statistics on factory closings. Hey, there's no bad economic news if there's no information, is there?
Seriously, this is distrubing...consumer spending simply can't keep the economy going forever. I'm sure Bush, ever-mindful of his father's re-election defeat, really does want to be perceived as "concerned" about job losses. Heck, people may even buy it. But I think current events suggest that Bush's economic policies aren't doing a lot for the economy right now, and I expect voters will assess his performance accordingly come Election Day.