Bad News for Libs: Unemployment rate lowest in 5-1/2 years

And it was better in the months before than was reported:

Here's all the bad [good] news:

http://news.yahoo.com/s/nm/20061103/bs_nm/economy_jobs_dc_7

 

Here's an interesting report from a few years ago about how the "doom and gloom" media portrayed Clinton's 5.2 percent rate (positive) (in fact, hailed as highly successful):

http://www.mediaresearch.org/realitycheck/2004/fax20041020.asp

Some even try to compare the rate with "burger flipping jobs" in order to downplay it.

 

I got no problems with a very low unemployment rate. Good news.

Do the news media play games with this stuff? yeah probably. To the extent one media organization is skewed left or right they probably play with the presentation of the news.

I strongly disagree with economic news being tied to one president or another. There are a myriad of reasons for good and bad economies. Some of the impacts are long term and some are short term.

I did some long term research and personal recollection with regard to a bad period in the US economy that hit in the late 1980's and early 1990's.

That economic slow down was tied to Pres Bush I in the 1992 election. Even after a quick and successful war in 1991 he was beaten by Clinton. Go back in time to the '92 election and part of the Clinton internal political strategy was "its the economy stupid" They kept hammering at the economy.

That recessionary period was caused by the commercial real estate collapse at the end of the 1980's and spread through the economy.

The root cause on that collapse was caused by changes in banking rules and specifically Savings and Loan rules that were changed either in the late 1970's (as a result of high inflation and high interest rates) or the early 1980's. That led to massive overbuilding.

It some ways the tech collapse and specifically the dotcom and telecom collapse of the early 2000's had some of the characteristics of the collapse of the early 1990's.

Some of the good employment news that is currently running is probably the result of recent efforts and some of longer term efforts.

All the the media (either left, right, or neutral) focuses too much on simple current news and buys into current political bs about economics. I believe that is true for all administrations.

 

Agreed, but what about wages? I'm not indentifiable 'left', but I've heard that wages aren't rising....anyone with the full picture of that, rather than one sided views of it.

 

I posted about wages a few months back:

http://forums.digitalpoint.com/showpost.php?p=795482&postcount=57

Wages ARE rising. Wages rose like 0.3% last month or something, I forget the exact number, but they are rising. The average job created is a good job, too. Not a hamburger flipper, like some here would let you believe.

 

It's good to see that someone here in Fl is finally getting it. Why vote for a person of a party that is all doom and gloom.

 

The minimum wage has been falling in real terms for many years and poverty has increased.

But as long as there is a low unemployment figure to shout about then I guess everything is going great

 

Most people dont earn the minimum wage.

 

The rich get richer.

 

There's a lot of openings for webmasters. Employers found out how much time the average webmaster spent online discussing politics and created a bunch of new openings.

 

92,000 will probably be higher when they revise the numbers.

Falls in construction and manufacturing employment....that's not good at all!

What's that....do I hear inflation getting closer? NOOOOOOOOOOOOOOOOOOO!

 

Inflation doesn't exist! No need to increase the min. wage!

 

My curiousity stem is with how it keeping up with inflation. I've not looked any specific data on this, but I'm it's a rather mixed picture.

Perhaps I should actually read your link first and then respond... ; )

It might have the answer there.

 

Im sure the first thing the dem's will do if they come to power is raise taxes and kill this great economy.

 

After they help the Muslim terrorists pull off a few attacks.

 

I doubt democrats would directly coordinate with them. That would take some skill. What they will do and have said they will do, is take away the tools used to prevent said attacks.

Complicity, yes. Anything to make it easier for terrorists? Unquestionably!

 

No, they are to busy eating Caviar, white Truffles, and drinking Cristal Champaign with their Hollywood friends, while they show off their Red Ipod (makes them feel good).

 

Excellent thoughts earlpearl. I did save an article from the Wall Street Journal that tied a number of major improvements in the economy to the W. Bush tax cut. So I would say a president can have a direct effect on unemployment by lowering tax rates.

Also recall that Bush Sr. didn't lose to Clinton, he lost to Clinton and Perot. I despised Perot before he screwed up that election but it did trigger the Republican take over of both the Senate and the House. A combination of the Intenet boom (95 through 2000) and Repubican tax cuts made it so any old Bubba could sit in the White House and focus on the Jennifer's, Paula's and Monica's of the world and take credit for a strong economy.

 

That's why I don't hate clinton as much as others do. He gave us a Republican senate and house for the first time in what? 40 years? Thanks Bill!

 

Who in the hell earns minimum wage?
High School kids? Illegals? Drug Addicts?

If you earn minimum wage, you need to take a serious look in the mirror.