Ungodly Politics

"Announcing your plans is a good way to hear god laugh." - Al Swearingen

Friday, October 08, 2004  
September Job Growth Weaker Than Expected

This is sad for those out of work. But it's also going to make an interesting point in the debate tonight.

U.S. businesses added 96,000 jobs to payrolls in September, the government reported on Friday, a weaker-than-expected total that was expected to sharpen a presidential debate later in the day over the economy's direction.

The Labor Department report, showing the unemployment rate in September held steady at 5.4 percent, will provide fodder for the second debate between President Bush and Democratic Presidential contender Sen. John Kerry. It was the final jobs report before the Nov. 2 presidential election with polls indicating that jobs are of paramount concern to voters.

The September job-creation total came in below Wall Street economists' forecasts for 148,000 new jobs. The department also revised down its estimate of August new jobs to 128,000 from 144,000 it reported a month ago.

Most jobs in September came in the services sector, while manufacturers shed 18,000 jobs last month after increased hiring in the two prior months.
Takes around 150,000 jobs to keep up with population growth. If we added only 96k, and unemployment stayed static, that means 54,000 people just quit looking.

posted by lazarus | 07:24 | |
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