Oooops.
| The U.S. economy added a paltry 21,000 jobs last month, according to a surprisingly weak government report on Friday that turned up the heat on President Bush as he seeks re-election.
"The job market is stuck in a cycle of inertia," said John Challenger, head of the outplacement firm Challenger, Gray & Christmas. "The fact is, we are going to have to get used to slow job creation in this country." The details in the report were uniformly bleak. Private-sector employment showed no gains. Government hiring was the only reason the nonfarm payroll count rose. |
What few job gains accrued were government jobs. D'oh!
| In addition, job creation in December and January was weaker than previously thought, by a combined 23,000 jobs.
And while the unemployment rate held steady at 5.6 percent, that was only because many people stopped looking for work. Employment as measured by a survey of households plummeted. ... Wall Street firms had forecast a February gain of 125,000 jobs and the market reaction was swift and sharp. The dollar weakened and U.S. Treasury bond prices shot up, sending interest rates down sharply, on the view the Federal Reserve would hold borrowing costs steady for a long time. |
Just remember, it's not Bunnypants' fault. Like he says, we're in a terrible, costly war.
Oh, yeah, I guess that is Bunnypants' fault.
Really, I think you should read the whole article. It's quite illuminating.
....but hey, you do what you want....you will anyway.
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