Monday, October 11, 2004
Kedwards Would Have Us Think the Economy is not Doing Well?
"The last jobs numbers to be reported before the Presidential election are in, and predictably John Kerry is spinning them as "disappointing." Well, if this is disappointment, most people would probably like to have four more years of it.
"The figure of 96,000 jobs created in September was below the expectations of many economists, but it remains a perfectly respectable showing; the jobless rate was steady at 5.4%, well below the long-term average, and below the 5.5% rate of November 1996 when Bill Clinton was hailing prosperity as he ran for re-election. The data were in line with strong economic growth over the last year: Since the Bush tax cuts kicked in, year-over-year growth has been 4.8%, the second quarter was recently revised upward to 3.3%, and the consensus among economists for the third quarter just ended is more than 4%."
More here (for WSJ Subscribers).
"The figure of 96,000 jobs created in September was below the expectations of many economists, but it remains a perfectly respectable showing; the jobless rate was steady at 5.4%, well below the long-term average, and below the 5.5% rate of November 1996 when Bill Clinton was hailing prosperity as he ran for re-election. The data were in line with strong economic growth over the last year: Since the Bush tax cuts kicked in, year-over-year growth has been 4.8%, the second quarter was recently revised upward to 3.3%, and the consensus among economists for the third quarter just ended is more than 4%."
More here (for WSJ Subscribers).
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