A Stitch in Haste

Unemployment Below 5.0%

6 Responses to “Unemployment Below 5.0%”

1. john pike, on September 2nd, 2005 at 12:03 pm Said:

   Can't wait to see how Paul Krugman addresses this: "yeah, but now with katrina all of those gains wll evaporate."

2. Will Franklin, on September 2nd, 2005 at 2:48 pm Said:

   Very good news. The economy of New Orleans, being entirely out of commission as it is, will likely take a modest bite out of GDP growth. And the "TV shock" effects will, too.

   But we'll move beyond that. This economy is too strong to be derailed by even this disaster.

   I also would just guess that the Fed will keep interest rates steady at their meeting later this month. Just to see how everything goes.

3. Eh Nonymous, on September 2nd, 2005 at 3:47 pm Said:

   Will: [blink] This economy is too strong? Are you familiar with the actual import of the NO port? I think we're having a moment of rupture: the sudden realization that the conversation may not be able to continue, since the gap in mutual assumptions is too wide to bridge.

   I don't think this whole debate (unemployment is good; employment overall is bad) is about "spin" as much as it is about interpreting the actual numbers. What's the rate mean? How many jobs were created? How many new workers in the workforce are there? How many people are "looking" and "not looking"? I'm not qualified to speculate. But I know that the numbers are meaningless without rigorous specificity. Otherwise, it's all platitudes and unsupported assertions.

   John: clearly you are a student of Krugman's methods. Like his prediction of the Asian financial crisis. He blamed it all on weather, right? What's that? Oh, on his rigorous economics modeling? Whatever. Those crazy liberals, with their "evidence," and "logic."

   

   love and kisses,

   Eh Nonymous

4. Downtown Lad, on September 2nd, 2005 at 4:20 pm Said:

   I actually disagree. The jobs number growth was pathetic yet again, well under 200,000.

   There are barely more jobs now than when Bush entered office, maybe a million more, if that.

   Less people are looking for work across the board. The question is why?

   I don't blame Bush for this. I think without the tax cuts we'd be much worse off.

5. Matt, on September 3rd, 2005 at 4:18 am Said:

   Government is seldom legitimately to thank for good economic news…the best they can do is refrain from screwing things up too badly. Which, as many problems as I have with Bush, I have to concede that he's done.

6. J Philip, on September 3rd, 2005 at 4:48 pm Said:

   Well said Matt- the administration did not impede growth. The relatively low number of jobs created is in my opinion largely offset by a growing number of self employed who are making a go of it in these conditions.