Payroll numbers disappoint again!!!

What is up with job growth. After 3 months of 200,000 plus job gains we have now seen 78,000 for june and now only 32,000 for july. Do you think it is because of outsourcing, higher oil prices, the threat of terrorism, higher interest rates. The last recession was caused in part by greensapn raising interest rates in 2000. It seems to me that we might be slipping back into recession. What are your thoughts?

Also talks about going back into a recession / depression:

www.abovetopsecret.com...

Wow. 32,000 when they expected 240-250,000?
That is a dissapointing figure.

I think they jumped the gun on raising interest rates.

One thing I thought was funny, the unemployment rate went down to 5.5%

They lowered the figures for the last couple of months also.


"In the survey of businesses used for the payrolls report, job gains were revised lower for the preceding two months, to 78,000 for June and 208,000 in May, or 61,000 less than originally stated by the Labor Department."
quote.bloomberg.com...


[edit on 6-8-2004 by AceOfBase]

i dont expect minimum wage to be going up anytime soon either.(no i dont make minimum wage, more like 2.5x that.) Minimum wage in colorado is 5.15/hr. But i guess it just depends on where you live. I know that in new york a pack of smokes is 4-6 bucks

Smokes should be $10+

It would discurage people from smoking.

The unemployment rates dont reflect much.

They only reflect those who are currently on benefits or registered as unemployed.

Consider the huge amount of people who did not sign up for unemployment, or whose benefits ran out. Consider also those who lsot thier jobs, but now are working only part time, or working two part time jobs.

There are alot of people who once had pretty decent paying jobs who now work at starbucks because thier job is overseas. They are struggling.

The real picture of the economy is no where near the pipe dream that the president paints it as.

Skadi_the_Evil_Elf, you are right. I live in columbus, Ohio. For 20 years I could get as many jobs as I wanted with very little effort. For the last 2 years I am lucky to get 10 hours of work a week. Things picked up a bit and have now dropped off again. So what is the fundamental problem with the economy?
Corporations are posting record profits so what is the drag holding things down?

Originally posted by MacKiller
Smokes should be $10+

It would discurage people from smoking.

They're already around $9 for a large pack right now