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Economy created just 32,000 jobs in July

Monthly gain smallest since December and below expectations

 

The Associated Press

Updated: 9:42 a.m. ET Aug. 6, 2004WASHINGTON -

 

The nation’s payroll growth slowed dramatically in July with a paltry 32,000 jobs being added— a potentially troubling sign that the rough patch the economy hit in June was no aberration.

 

 

 

 

The unemployment rate, however, dipped down a notch to 5.5 percent last month, from 5.6 percent in June, the Labor Department reported Friday. The new jobless rate was the lowest since October 2001.

 

The payrolls figure and the unemployment rate can sometimes go in different directions because they are derived from two separate statistical surveys.

 

Economists, however, look more closely at the payroll figure as a better barometer of the health of the jobs market. The 32,000 net jobs added in July represented the smallest gain in hiring since December and followed a revised gain of just 78,000 in June, even less than previously reported. May’s payrolls also were revised down to show a gain of 208,000.

 

The unemployment rate is calculated based on a survey of households — a sort of poll — in which people are asked to state whether they have jobs or are looking for work. The seasonally adjusted civilian unemployment rate thus is the percentage of the labor force represented by those who are either listed as officially unemployed or searching for work. With a contraction in the size of the labor force, that dropped the unemployment rate by a minuscule 0.1 percentage point from June to July.

 

Analysts were expecting the economy to add anywhere from 215,000 to 247,000 jobs in July. They were predicting the jobless rate to hold steady at 5.6 percent.

 

Federal Reserve Chairman Alan Greenspan, appearing before Congress last month, said that the economy hit a “soft patch” in June. But he expressed confidence that it would be short-lived.

 

Jobs an election issue

President Bush and his Democratic rival, John Kerry, joust frequently over the health of the economy and the availability of jobs — prominent issues in the presidential campaign. Kerry says Bush’s economic policies aren’t working and squeeze the middle class. Bush insists his tax cuts have helped the economy rebound and that making those tax cuts permanent will spur more job creation. He’s counting on that to help him win another four-year term in November.

 

Since Bush took office in January 2001, the economy has lost a net 1.1 million jobs.

 

While the economic recovery is on a solid path, the labor market recovery has been spotty.

 

Greenspan, in his appearance before Congress last month, noted that businesses have not completely abandoned their cautionary stance toward hiring.

 

Still, with the job situation uneven, Federal Reserve policy-makers have leeway to raise short-term interest rates gradually to head off any inflation problems, economists say. The Fed meets next week; economists expect policy-makers to boost rates by one-quarter percentage point. On June 30, the Fed increased interest rates for the first time in four years, raising a key rate to 1.25 percent from a 46-year low of 1 percent.

 

Even with the disappointing job growth in July, it still marked the 11th month in a row that the economy added jobs.

 

And, in an encouraging note, manufacturers, after cutting 1,000 jobs in June, added 10,000 in July.

 

But retailers shed jobs as did financial services firms and hospitality companies.

 

Separately, consumer confidence surged in August to its highest level since the beginning of the year despite fresh terror threats and surging oil prices.

 

The AP-Ipsos consumer confidence index climbed to 104.8 in August, up from 92.0 in July, led by consumers’ perceptions of their own finances and optimism about the future.

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Great Facts.  It really highlights how lucky we are to have Bush in the White House.

 

If Gore got elected imagine how devastated our country would be right now because of that Clinton recession and what with his surrender to Al Qaeda.

 

God Bless America.

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Every body knows real men like Bush.....

and ride Chief Motorcycles !    :D

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Is it the President of the United States of America's job to generate jobs for our people?

 

No! I dont care who's in office republican or democrat , it is not his respnsibility to secure jobs for the people (he is not GOD!) .

 

There are many reasons why businesses belly-up , I have never seen one use the excuse that the Government put them out of work!

 

Al the issues you guys claim are because of the president , get real , the president is one man , thats why we have a Senate and a house of delegates from each state . The responsibility to make there states a better place lie in there hands , The states themseleves have responsibility for what happens , they also have a government .

 

Unfortunately , the states have relied upon daddy fed to feed them , if they had used the free enterprise system the correct way , the deficet in each state would be clear  .

 

I dont like to dwell on this BS , but when people try to blame one man for there misery , they need to be enlightened to the facts .

John Kerry is a good man , I wouldnt play poker with him , cause I know he'd cheat, but I wouldnt play chess with Bush either . But if I lose my job or the entire company goes under I am not gonna blame the president or a senator for the economics of why the company failed!

 

After reading some of the posts here , you would believe the president is responsible for unemployment and job growth , well , I guess we have to blame President Bush for letting Indian Motorcycles go bankrupt . I also think we need to thank the president for bringing Indian Motorcycle back for us!

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Is it the President of the United States of America's job to generate jobs for our people?

 

No! I dont care who's in office republican or democrat , it is not his respnsibility to secure jobs for the people (he is not GOD!) .

 

 

Al the issues you guys claim are because of the president , get real , the president is one man , thats why we have a Senate and a house of delegates from each state . The responsibility to make there states a better place lie in there hands , The states themseleves have responsibility for what happens , they also have a government .

 

 

I dont like to dwell on this BS , but when people try to blame one man for there misery , they need to be enlightened to the facts .

 

 

 

Yes... The President is responsible... He is the BOSS!! and NO he is NOT just one man... he is technically the boss of every government worker.....

 

 

 

 

The President is the head of the executive branch and plays a large role in making America’s laws. His job is to approve the laws that Congress creates. When the Senate and the House approve a bill, they send it to the President. If he agrees with the law, he signs it and the law goes into effect.

 

If the President does not like a bill, he can refuse to sign it. When he does this, it is called a veto. If the President vetoes a bill, it will most likely never become a law. Congress can override a veto, but to do so two-thirds of the Members of Congress must vote against the President.

 

Despite all of his power, the President cannot write bills. He can propose a bill, but a member of Congress must submit it for him.

 

In addition to playing a key role in the lawmaking process, the President has several duties. He serves as the American Head of State, meaning that he meets with the leaders of other countries and can make treaties with them. However, the Senate must approve any treaty before it becomes official.

 

The President is also the Chief of the Government. That means that he is technically the boss of every government worker.

 

Also, the President is the official head of the U.S. military. He can authorize the use of troops overseas without declaring war. To officially declare war, though, he must get the approval of the Congress.

 

The President and the Vice-President are the only officials chosen by the entire country. Not just anyone can be President, though. In order to be elected, one must be at least 35 years old. Also, each candidate must be a natural-born U.S. citizen and have lived in the U.S. for at least 14 years. When elected, the President serves a term of four years. The most one President can serve is two terms, for a total of eight years.

 

Before 1951, the President could serve for as many terms as he wanted. However, no one had tried. After two terms as President, George Washington chose not to run again. All other Presidents followed his example until Franklin D. Roosevelt. Roosevelt successfully ran for office four times. Early in his fourth term, he died, in 1945. Six years later, Congress passed the 22nd Amendment, which limits Presidents to two terms.

 

 

 

The President's Cabinet

 

Do you have friends that you turn to for advice? When the President wants advice he asks a group of people called the Cabinet. The purpose of the Cabinet is to advise the President. They are the President's closest and most trusted advisors. The Cabinet includes the Vice President, the heads of 15 executive branch departments, and other Government officials chosen by the President. The Cabinet meets at least once a week to discuss matters that effect the United States.

 

The 14 Secretaries from the executive departments and the Attorney General are nominated by the President, and they must be approved (confirmed) by a majority vote (51 votes) of the Senate. Nominees can not be a member of Congress or hold any other elected office. Executive department Secretaries and the Attorney General serve as long as the President is in office.

 

The following is a list of the current heads of the 15 executive department agencies, their department, when that department was created, and a brief description of the department. The list is organized by order of succession. More detailed information is available in the United States Government Manual.

 

Secretary of State Colin L. Powell

Department of State (1789):

Works with other countries.

   

Secretary of the Treasury John Snow

Department of the Treasury (1789):

Supervises the collection of taxes and the printing of money.

 

Secretary of Defense Donald H. Rumsfeld

Department of Defense (1947):

Oversees the armed forces.

 

Attorney General John Ashcroft

Department of Justice (1870):

Enforces the U.S. Government's laws.

 

Secretary of the Interior Gale A. Norton

Department of the Interior (1849):

Protects natural resources and wildlife.

 

Secretary of Agriculture Ann M. Veneman

Department of Agriculture (1862):

Ensures a healthy food supply and provides support for farmers.

 

Secretary of Commerce Donald L. Evans

Department of Commerce (1903):

Promotes business and job opportunities for all Americans, responsible for all copyrights, patents, and trademarks; and oversees matters related to oceans, weather, and technology.

 

Secretary of Labor Elaine L. Chao

Department of Labor (1913):

Oversees the interests of U.S. workers.

 

Secretary of Health and Human Services Tommy G. Thompson

Department of Health and Human Services (1953):

Looks after people's health and provides services including conducting medical research, preventing diseases, assuring the safety of food and drugs; providing financial assistance for low income families.

 

Secretary of Housing and Urban Development Mel Martinez

Department of Housing and Urban Development (1965):

Oversees housing needs, and focuses on improving and developing communities.

 

Secretary of Transportation Norman Y. Mineta

Department of Transportation (1966):

Oversees the nation's transportation system including highways, railroads, ports, and air travel.  

 

Secretary of Energy Spencer Abraham

Department of Energy (1977):

Researches and develops energy systems that are friendly to the environment, but are not too expensive.

 

Secretary of Education Rod Paige

Department of Education (1979):

Establishes guidelines and provides leadership to address American education. It helps local communities meet the needs of their students.

 

Secretary of Veterans Affairs Anthony J. Principi

Department of Veterans Affairs (1988):

Operates programs for veterans and their families.

 

Secretary of Homeland Security Tom Ridge

Department of Homeland Security (2003):

Works to prevent terrorist attacks within the United States, reduce America's vulnerability to terrorism, and minimize the damage from potential attacks and natural disasters.

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It's all pretty complicated, when your dealing with political ideologies, and perhaps this will add enlightenment to the difficulty of picking which camp to follow.

 

Case in point.

 

1. Republicans have not had a good history of helping the fire service, but much of the funding for home land security has trickled down in the form of grants for fire departments to purchase equipment, thus increasing fire fighter safety.

 

Democrates were the Fire Fighters friend, and under their watch, 4 man engine companies were rapidly gaining ground in a great many cities to increase fire fighter safety.  However because of the cost of extra man power, and the need for these cities to increasing their funding through taxes, many fire companies were shut down.

 

Case in point 2,

 

Under the Democrates watch, EMS in most states was put under the umbrella of the National registery and the DOT.  This was great for EMS as that emphasis was placed on liscensure instead of certification, I.E. if you have a college degree in EMS (Two year Program), and passed the National Registry test, that was it you are a Para-medic for life.  Under Certification you must take a test every four years to prove you are a Para-Medic, and if you don't pass you loose your job.

 

The problem is that now the well of medics is drying up, cities don't want to put a candidate through two years of training to see if they will pass, Students are not rushing to sign up for EMS training when for the same time and money they can become a Nurse and make more money.

 

Cities, I.E. Tax payers will have to increase the funding for medics for them to entice them into the field, and to provide the services needed for the community.

 

These are just two examples of difficulty in choosing a path that the leaders of our Country face, I am sure if you think about it you will find many catch 22 situations that face your line of work as well.

 

I'm not foolish enough to tout Bush as the finest thing since sliced bread, hell there is still the murderer of almost 3 thousand Americans at large, but he at least has the balls or Gall to take a stand and follow through, this is some thing I have not seen from Kerry, whom changes his mind and direction depending on the polls at any given time.

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Yes... The President is responsible... He is the BOSS!! and NO he is NOT just one man... he is technically the boss of every government worker.....

We are not a Socialist or Communist state (yet). Our government is a democratic Republic and our economic system is capitalistic.

 

The President (Carter, Regan, Bush, Clinton, Bush) has never been my my employeer nor boss.

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maybe so,but you are missing one very important point. In 96 when Clinton ran for reelection the jobless rate was 5.6. This year it is 5.5. Clintions was a booming job rate,now Bush is a failing job rate. Don't compute in my book. Look at the JOB RATE not all the smoke an mirrors of jobs lost an jobs gained. How bout all the people that have started their own companies an aren't counted in the jobs gained just the jobs lost,bottom line is the JOB RATE
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Great Facts.  It really highlights how lucky we are to have Bush in the White House.

 

If Gore got elected imagine how devastated our country would be right now because of that Clinton recession and what with his surrender to Al Qaeda.

 

God Bless America.

If Gore got elected we would have been screwed!! Look how well he handled defeat..The guy completely fell apart...

 

Damn glad he Wasn't in office when we were attacked...

Yes we were attacked and We are currently at war.

 

Too bad the losers never got over the election and they will say anything anything to remove Bush.

 

Its more about "No Bush" (Bummer) Than...MR. Undecicive (Kerry) in this election.

 

What we have currently may not be the greatest...

But, It sure is one hell of alot better than what the losers have to offer...

 

And Hell Yes,   GOD BLESS AMERICA!!

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just noticed something some may find instresting. xuxaw is the only one that does not list a hometown&state or at least a first name in their profile. i know don't want to have your idenity stolen.
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:rotfl:

That's cause he's not from here. Probably SF. that about as liberal an are I can think of.

How in heck are suppossed to know where to ship him back to ?

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just noticed something some may find instresting. xuxaw is the only one that does not list a hometown&state or at least a first name in their profile. i know don't want to have your idenity stolen.

XUXAW is a good guy. He rides with us out here in Southern California. I know him personally. I think he has even been to my house.

 

As you can tell, we do not agree much politically but that alone has never made me think less of a person.

 

But many of us out here know him, know where he lives. He is not one of the people who come on here to throw stones but never shows his face at public events.

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maybe so,but you are missing one very important point. In 96 when Clinton ran for reelection the jobless rate was 5.6. This year it is 5.5. Clintions was a booming job rate,now Bush is a failing job rate. Don't compute in my book. Look at the JOB RATE not all the smoke an mirrors of jobs lost an jobs gained. How bout all the people that have started their own companies an aren't counted in the jobs gained just the jobs lost,bottom line is the JOB RATE

It seems to me that you are missing a point.

 

Clint-turd didn't have the inconvenience of having a MAJOR DOMESTIC TERRORIST ATTACK directed upon our ECONOMY.

 

Bush responded by flattening not one but TWO countries.  Sure, the long - term consequences are not completely clear, but one thing has become clear:

 

America is not a 'paper dragon'.  Fuck with us and someone is goint to PAY

:veryangry:

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maybe so,but you are missing one very important point. In 96 when Clinton ran for reelection the jobless rate was 5.6. This year it is 5.5. Clintions was a booming job rate,now Bush is a failing job rate. Don't compute in my book. Look at the JOB RATE not all the smoke an mirrors of jobs lost an jobs gained. How bout all the people that have started their own companies an aren't counted in the jobs gained just the jobs lost,bottom line is the JOB RATE

If it doesn't compute in your book, you need to get a new book.

 

In NOV 1996 (when Clinton was running for reelection) the unemployment rate was actually 5.4%.  What makes that remarkable is that when Clinton was running for election the first time in 1992, the unemployment rate was 7.4%.  By NOV 2000, the unemployment rate had dwindled to a 30 year low of 3.9%.

 

Cumulatively, Clinton created 22 million jobs and lowered the unemployment rate by 47%.

 

After Bush took office, the unemployment rate rose steadily for thirty months, and remained high for an additional 6 months before declining to its current rate.

 

Cumulatively, Bush has lost 1.2 million jobs and raised the unemployment rate by 41%  

 

So whether you look at jobs or unemployment, Bush has done an abysmal job vis-a-vis the economy.  And that's before you consider the squandered surplus and the record setting deficit.

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I don't want to burst anyone's bubble, but FDR created a shitload of jobs trying to get us out of the depression and through WW2.  However, those jobs created cost us a shitload of money that still is being repaid.  Just citing job growth is a piss-poor way of determining the President's job performance.  Clinton had a great run during the dot-com years due to relaxed SEC rules--but the bubble burst just before Bush's tenure began when people finally figured out the dot-coms (and a good portion of the "tech" industry) didn't actually make a product--just horseshit "mission statements".  A lot of people lost a lot of money due to all that crap, too.  

    You can cite any statistics you want, but that's all they are--whether they support the left, right, green, communists, anarchists, etc.

     campbell

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so basically what your saying is ,its George Bushs job to give my son a job at McDonalds? Its not my sons position to look for a job , its the presidents ! Hmmmm, I wonder if this guys a little on the liberal side! Do you give money to the bums on the street begging? Yes you do! I dont , I have no sympathy for them at all! I lived on the streets of Salt Lake city after I got out of the Marines for 7 months , never took a handout, I seen the abuses to the system that the government invokes , give,give,give  but never get anything back !

 

Out of all these people who've lost jobs has any of them tried to get a new job? Oh thats right , thats George Bushs problem , he fired them he should get them a new job!

 

Ive been fired and layed off so many times I ran out of fingers , but I always seem to find another , its my fault I lost the jobs, I was even RIF'ED (Reduction In Force ) I didnt blame Bill Clinton for that even though he was the president ! I said fuck it, complaining doesnt get you shit, I went out and found another job within the week!

 

If I had to I'd work at McDonalds or Burger King , instead of complain or ask the rich to give me there money!

 

I suppose you think the rich arent paying enough taxes ? My brother paid more than my annual income($60k) last year in taxes , I am happy for him and I dont believe he owes more or less than what I paid ! Our county is full of whiners and babies , they want mommy to kiss it and make it better!

 

Fuck , I cant believe the sissy shit I hear, thanks God its a free country , you believe what you want and earn your money anyway you want and give it to the homeless if you want , but dont come knocking on my door for a handout, you wont like the greeting I have to offer!

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Votes Statistics

Kerry 28  [30.77%]

Bush 54  [59.34%]

Other 0  [0.00%]

 Sell it somewhere else.

:pirate1:

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