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| Home Front: Economy |
| Payroll Jobs Surge +337,000 (Household +298,000) |
| 2004-11-05 |
| It might have probably have been an even bigger victory for Bush if the election were next week. There was a big increase in construction jobs probably attributable to clean up after the Sept Hurricanes. The link is to the official BLS site. ---------------------------------- Nonfarm payroll employment increased by 337,000 in October, and the unemployment rate was about unchanged at 5.5 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Construction employment rose sharply over the month, and several service-providing indus- tries also added jobs. Unemployment (Household Survey Data) Both the number of unemployed persons, 8.1 million, and the unemploymentrate, 5.5 percent, were essentially unchanged from September to October. The jobless rate has held fairly steady thus far this year and remains below its most recent high of 6.3 percent in June 2003. |
| Posted by:mhw |
| #6 The same thing happened in 1992, except that since Bush lost, the media headlines said something like "Clinton's victory spurs consumer confidence; hiring up." Really. They actually had an economic report just after the election and gave credit to Clinton. |
| Posted by: jackal 2004-11-05 9:04:36 PM |
| #5 How many farm jobs are lost or gained in NYC? |
| Posted by: Mark Espinola 2004-11-05 9:01:33 PM |
| #4 Abolish the Minimum Wage laws and you'll make all sorts of jobs available to teens. Their first jobs. A step up to prosperity. Currently denied by law. Such a move would probably have a huge impact to reduce black unemployment. |
| Posted by: Kalle (kafir forever) 2004-11-05 4:27:03 PM |
| #3 A lot fewer blacks are in farming in the South than there were a decade ago (also fewer whites). There has been a big increase in employment of blacks in retail, finance, insurance, govt., etc. as these industries have desegragated. |
| Posted by: mhw 2004-11-05 10:14:44 AM |
| #2 One more comment. These are non-farm jobs. I wonder how much the changes in agriculture in the South have affected the black employment situation in the last decade? |
| Posted by: Chuck Simmins 2004-11-05 10:09:48 AM |
| #1 This is huge, even with all the caveats. Remember that a decade ago, 5.5% unemployment was considered full employment. When you look at the internals, it's teen and black unemployment that's driving the number. Adult unemployment for both sexes is about 4.8%, and white unemployment is 4.7%. Teen unemployment can be affected by education and training, both Bush priorities. Black unemployment is a tougher nut to crack but the rate of 10.7% remains at near historic lows. In every month prior to September 1994 the rate was higher. It was only usually lower from mid 1996 through February 2002, the Clinton bubble [for all intents and purposes]. |
| Posted by: Chuck Simmins 2004-11-05 10:08:28 AM |