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2004-11-05 Home Front: Economy

Payroll Jobs Surge +337,000 (Household +298,000)

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Posted by mhw 2004-11-05 9:27:42 AM|| || Front Page|| [1 views since 2007-05-07] Top

#1 This is huge, even with all the caveats. Remember that a decade ago, 5.5% unemployment was considered full employment.

When you look at the internals, it's teen and black unemployment that's driving the number. Adult unemployment for both sexes is about 4.8%, and white unemployment is 4.7%.

Teen unemployment can be affected by education and training, both Bush priorities. Black unemployment is a tougher nut to crack but the rate of 10.7% remains at near historic lows. In every month prior to September 1994 the rate was higher. It was only usually lower from mid 1996 through February 2002, the Clinton bubble [for all intents and purposes].

Posted by Chuck Simmins 2004-11-05 10:08:28 AM|| [http://blog.simmins.org] 2004-11-05 10:08:28 AM|| Front Page Top

#2 One more comment. These are non-farm jobs. I wonder how much the changes in agriculture in the South have affected the black employment situation in the last decade?

Posted by Chuck Simmins 2004-11-05 10:09:48 AM|| [http://blog.simmins.org] 2004-11-05 10:09:48 AM|| Front Page Top

#3 A lot fewer blacks are in farming in the South than there were a decade ago (also fewer whites).

There has been a big increase in employment of blacks in retail, finance, insurance, govt., etc. as these industries have desegragated.

Posted by mhw 2004-11-05 10:14:44 AM|| 2004-11-05 10:14:44 AM|| Front Page Top

#4 Abolish the Minimum Wage laws and you'll make all sorts of jobs available to teens. Their first jobs. A step up to prosperity. Currently denied by law.

Such a move would probably have a huge impact to reduce black unemployment.

Posted by Kalle (kafir forever) 2004-11-05 4:27:03 PM|| [http://radio.weblogs.com/0103811/categories/currentEvents/] 2004-11-05 4:27:03 PM|| Front Page Top

#5 How many farm jobs are lost or gained in NYC?

Posted by Mark Espinola 2004-11-05 9:01:33 PM|| 2004-11-05 9:01:33 PM|| Front Page Top

#6 The same thing happened in 1992, except that since Bush lost, the media headlines said something like "Clinton's victory spurs consumer confidence; hiring up."
Really. They actually had an economic report just after the election and gave credit to Clinton.

Posted by jackal 2004-11-05 9:04:36 PM|| [http://home.earthlink.net/~sleepyjackal/index.html] 2004-11-05 9:04:36 PM|| Front Page Top

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