32,000 jobs in July not 240,000.was the fed wrong?
nomorelies:
The Labor Department said the economy added 32,000 jobs in July, compared with the 240,000 median forecast of 74 economists. Some 112,000 jobs were added in June, compared with expectations for the economy to have created 250,000.
The unemployment rate was 5.5 percent, compared with estimates for it to remain at 5.6 percent for a fourth consecutive month.
Has there's been misplaced optimism in the strength of this economy?
Does this makes the last Fed rate increase look inappropriate?
Is the market postioned for higher rates not lower?
Most alarming is that GOVERNMENT DEBT HAS INCREASED DUE TO THE HIKE IN INTEREST RATES.
Friar:
This is the worst possible news for Bush that could came out.
I guess he will have to change the "we turned the corner" speech.
Noone can spin these numbers. Noone. Even Rove can't.
The August numbers won't be released till the RNC is over. I can't wait for all the "economy is strong" speeches at the RNC. In fact I can't wait to see what Bush has to say about these numbers.
This could easily add 1 or 2 points to Kerry numbers. some battleground states will turn into Kerry's column and some Bush states will go to the battleground column.
nomorelies:
Could the Republicans be losing jobs. The markets are going to go mental today. I reckon the DOW will hit 9,850.
The markets will be like ok 112,00 in June 32,000 in July PANIC PANIC then see $44 a barrel that will ease consumer spending.
Bush needs to drop the oil-for-food scandal on Russias head and allow Yukos to trade.
The Vorlon:
Strange a it sounds, the job of the Fed is to protect the currency, not the economy.
In late 1999/Early 2000 when the Feb was choking off the .com boom they were killing off inflationary fears, not "protecting" the economy.
Very bad news for workers, the economy, and politically for Bush in these numbers.
millwx:
Quote from: The Vorlon on August 06, 2004, 08:56:25 AM
Strange a it sounds, the job of the Fed is to protect the currency, not the economy.
In late 1999/Early 2000 when the Feb was choking off the .com boom they were killing off inflationary fears, not "protecting" the economy.
Vorlon, missed your close bracket. For the convenience of all, his graph is here...
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