JohnnyBz00LS said:
That only demonstrates how resiliant the US economy is. BuSh certainly isn't helping it along, but at least he can't f*&K it up too much either. The economy certainly isn't as healthy as it was in 2000, AND we are in much deeper debt. The "lower than expected budget deficit" (<-- that verbage is like the pilot warning the passengers that "we're all going to crash, BUT you'll have a chance to see the end of the in-flight movie first!!") is the result of projections based on a momentary blip in revinue that isn't going to last. 4 hurricanes in FLA over the last year is certainly helping the new home sales and construction buisness, I suppose you are going to credit BuSh for those? GM and Ford stock has tanked. And don't forget that unemployment numbers don't account for people who've been jobless for a year (or whatever that time limit is) or more. Consumer spending has only recently been on the upswing. What took it so long?? Highways are ALWAYS being improved, but nowhere near the rate necessary to support the explosion in the number of vehicles on the road. "People are being freed" my a$$, yeah, OK, as our own civil liberties are being trampled on. I can no longer go the the library without worrying about big-brother watching what I'm reading. I can't speak out in protest without my patriotism being questioned and get painted as a traitor or terrorist sympathizer.
CONSERVATIVES = BRAINWASHED HYPOCRITES :N
US economy creates 207,000 jobs in July
Related News »•
Greenspan signals more rate hikes •
US enjoys robust sales, tame inflation http://www.channelnewsasia.com/stories/afp_asiapacific_business/view/161722/1/.html#moreWASHINGTON : US employment creation powered ahead in July with an extra 207,000 jobs added to reinforce signs of robust growth in the world's biggest economy, the government said Friday.
The Labour Department's "non-farms payroll" figure was well ahead of Wall Street expectations for growth of 180,000 jobs in July, and was up from a revised 166,000 in June.
The department also said that the unemployment rate in July was unchanged at a four-year low of 5.0 percent, in line with predictions.
The department revised previous data to show the June jobs creation figure higher than the 146,000 given initially, and the May number up to 126,000 from 104,000 before.
"Overall it is a consistently strong, solid report," Nomura economists said in a research note.
"All signs point to strong growth in the second half of 2005," they added.
The stronger-than-expected growth over a number of months in non-farms payrolls reinforced expectations that the Federal Reserve will tighten US borrowing costs further to keep a lid on inflation.
Federal Reserve chief Alan Greenspan, in testimony to Congress last month, pointed at more rate rises to come in a generally upbeat assessment of the US economy.
Greenspan, however, warned that a slowdown in labour productivity growth and record-high oil prices could cloud the picture.
The US central bank is universally expected to raise its benchmark interest rate by another quarter percentage point to 3.5 percent when its policymaking arm meets next Tuesday.
Average hourly earnings rose by six cents, or 0.4 percent, to 16.13 dollars in July, Friday's data showed.
It was the biggest gain in hourly earnings in a year.
Hourly and weekly earnings have increased 2.7 percent in the past year, just ahead of the 2.5 percent inflation rate.
"The July employment report is very positive, suggesting that the labour market continued to improve," Marie-Pierre Ripert, US economist at IXIS Corporate and Investment Bank, said.
"Moreover, almost all recent indicators were particularly buoyant. In this context, we believe that the Fed will continue to tighten monetary policy at a 'measured' pace," she said.
Other data have pointed to robust growth in the world's biggest economy.
Expansion in the services sector, the mainstay of the economy, slowed down a touch in July but consumer spending and personal incomes more went up strongly in June.
The health of the jobs market is crucial for economic confidence, with consumer spending remaining the biggest motor of growth.
Economists say the total number of jobs created is a more reliable indicator of the US economy's health than the jobless rate.
They reckon that an average rise of 150,000 a month is needed to keep pace with population growth.
The services sector accounted for the bulk of the job creation in July, adding 203,000 positions, including 50,000 in retail, the most in more than five years.
Jobs in industry fell by 4,000, although a majority of manufacturers were hiring in July, for the first time in a year. - AFP /ch
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. NOt too long ago I partnered with a company that develops and slls EMR software for the behavioral healthcare industry. I am a DBA/SYS ENG and although i did go to college I taught myslf all the product knowledge by reading books and setting up labs.
