Bush ignores slowing job growth while taking credit for lower jobless rate

Bush praises lower than expected jobless figures but disregards reports of slowing job creation.

October 6 2006: 1:40 PM EDT

WASHINGTON (CNN) -- President Bush touted lower than expected jobless numbers issued today for September but ignored lackluster job creation during the same month by citing longer-term numbers showing net job growth.

"Our economy is strong," Bush said. "I say that because today we got more good news: The national unemployment rate is down to 4.6 percent."

A Labor Department report states that the national unemployment rate fell in September to 4.6 percent, besting a forecast by economists that the rate would stay at the 4.7 percent level reported for August.

Bush ignored another report issued Friday showing that U.S. payrolls grew by just 51,000 jobs in September, down from the revised 188,000-job gain in August.

"I will tell you that it does my spirits good to talk to risk-takers and dreamers and doers," Bush said.

http://money.cnn.com/2006/10/06/news/economy/bush_jobs/index.htm?section=money_latest



Bush, FedEx Deliver an Economy That Profits Rich, Exploits Workers; Official Statement of Jim Hoffa, Teamsters General President

WASHINGTON, Oct. 6 /PRNewswire/ -- The following is an official statement of Jim Hoffa, Teamsters General President:

Today, President Bush used mediocre monthly payroll figures to give himself a self-congratulatory pat on the back about an economy that is failing American workers. It is fitting that the White House chose to spin their skewed economic message at a FedEx facility in Washington, D.C., one of the most anti-worker companies in the United States.

FedEx has created a business model with a cutthroat mentality even Machiavelli would admire. CEO Fred Smith will collect over $10 million in compensation and dividend income this year alone, money that he earns by exploiting thousands of FedEx Ground drivers through an "independent contractor" model.

FedEx has abused this independent contractor status to shift risks and costs onto the drivers and taxpayers. The drivers take on costs that should be paid by the company, including trucks, uniforms and digital scanners.

As a bonus, this model allows FedEx to avoid paying income tax withholding, unemployment insurance premiums and worker compensation contributions while dodging state labor laws and federal laws like the Family Medical Leave Act and Equal Employment Opportunity Laws.

more: http://orange.advfn.com/news_Bush-FedEx-Deliver-an-Economy-That-Profits-Rich-Exploits-Workers-Official-Sta_17136366.html

realize that it really isn't good news for American workers....

Hey Lurkers while you are getting screwed over.....your Prezident is patting himself on the back.......

When Stupidhead is breaking his arm from patting himself on the back over the unemployment rate, some enterprising young reporter, "Press" card stuck askew in the hatband of his grey fedora, could ask, "Sir, considering the fact that the number of new jobs has not kept pace with the number of new employees entering the work force each month, could you explain what meaning, if any, the unemployment rate has, since it doesn't appear to measure anything in the real world?"

Then we could all flap our arms and fly to the moon.

i`ll stick with the usps..cheaper and just as fast

October 06, 2006

Washington, D.C. – House Democratic Leader Nancy Pelosi issued the following statement today on the tepid jobs report released today that showed only 51,000 jobs, just one-third of those needed to keep pace with population growth, were created in September, while real wages have remained stagnant over the last three years. This week, House Democratic Leaders are delivering major speeches throughout the country to outline Democrats' commitment to restoring the economic security of middle-class families, with speeches today by Congressmen Rahm Emanuel in Chicago, James Clyburn in Cincinnati, and Charles Rangel in Princeton, N.J.

“President Bush and Republicans continue to claim that the economy is on the right track, with President Bush saying today’s jobs report is ‘more good news.’ This once again demonstrates how out of touch the Republicans are, because the U.S. economy is not delivering for middle-class families.

“Corporate profits are up, but the incomes of middle-class families have declined for five straight years. People are working more productively than ever but their purchasing power is down. The cost of everything from housing, to health care, to energy is making it harder than ever to make ends meet, tightening the middle-class squeeze. The Dow is up, but people’s retirements are less secure than ever. This economy is making the super-rich richer, and leaving middle-class American families further behind.

“Republicans have no plan for middle-class families and the kitchen table issues they are facing. Instead, they continue to deliver tax subsidies to Big Oil, tax breaks for the wealthy, and record deficits for American taxpayers.”

“Democrats are offering a New Direction that rewards work, not just wealth and expands opportunity and economic security to all Americans. We will raise the minimum wage, repeal current tax incentives that serve to export American jobs overseas, and enact middle-class tax cuts to spur economic growth and encourage businesses to invest in research and development.”


http://democraticleader.house.gov/pressRelease.cfm?pressReleaseID=1856

10/6/2006 3:11:00 PM

http://releases.usnewswire.com/GetRelease.asp?id=73916

Contact: Stacie Paxton or Mark Paustenbach, 202-863-8148, both of the Democratic National Committee

WASHINGTON, Oct. 6 /U.S. Newswire/ -- Today's latest jobs report only confirms that the Bush economy doesn't work for all hard-working Americans. The economy added only 51,000 jobs in September, according to the Labor Department this morning. The Bush economy has been marked by falling wages and anemic job numbers that don't even keep up with population growth.

"Despite all the election year rhetoric, the facts don't lie; the Bush Economy has failed 80 percent of Americans, and President Bush just cannot manage America's finances," said Democratic National Committee Press Secretary Stacie Paxton. "Parents can't support their families and build a hopeful future for their children in the Bush Economy that is benefiting only the wealthiest, with lousy job growth, falling wages, millions more uninsured and rising poverty.

"Democrats offer a new direction that includes raising the minimum wage, creating good jobs that stay in America, and promoting tax cuts that help the middle class and not special interests."

A Heckuva Jobs Report: http://releases.usnewswire.com/GetRelease.asp?id=73916



Reid: Bush Republican Economic Policies Fail the Middle Class

10/6/2006 3:11:00 PM

http://releases.usnewswire.com/GetRelease.asp?id=73914

Contact: Jim Manley or Rebecca Kirszner, 202-224-2939, both for Senate Democratic Leader Harry Reid

WASHINGTON, Oct. 6 /U.S. Newswire/ -- Senate Democratic Leader Harry Reid today released the following statement on new economic numbers that show the continuing failure of Bush economic policies:

"While some investors may be reaping the rewards of record high stock market, today's jobs numbers show workers are still hurting in the Bush economy. It's because the President and the Republican Congress haven't done enough to help everyone get ahead. Under their economic policies, the rich are getting richer, the poor are getting poorer and the middle class is getting squeezed.

"President Bush may be 'pleased' with what his economy has done, but hard-working families know America needs a new direction. The American workforce is second to none. We work hard. We produce. And on a level playing field, we can't be beat. It's time for Washington to quit stacking the deck against America's workers and their families. We need leaders who will fight for the middle class, which starts by creating good jobs that pay."

http://releases.usnewswire.com/GetRelease.asp?id=73914

Massaged numbers. I have some raw data of my own:

http://www.dvorkin.com/essays/sbobu.html