Friday, April 02, 2004

Hey, One Month out of 24 308,000 New Jobs created in March -- The first time since the Bush Tax cuts that the Bush Administration actually met what they promised. Of course that means January, February and March are averaging the 150,000 a month you need to keep up with population growth. Of course, this is not all good news for the Bushies (though they will claim otherwise), the unemployment rate went up a tenth to 5.7% and the average work week also decreased. But there are so many folks who are out of the job market, I would guess you can see quite a spike in unemployment next month. Oh, and most of the jobs undoubtedly suck, I believe somewhere near 75,000 of these jobs were returning workers from a huge grocery store strike on the west coast, and its Spring so construction jobs and other seasonal labor are going to occur in increasing numbers. And, of course, the price of gas is ballooning which is not good for inflation or economic growth over time. Wow, I just completely rationalized this whole thing. I'm like a real economist -- I'm going to finish this post and head right off and balance that checkbook! But nonetheless, I congratulate our new waitresses, cashiers, and domestics all across our great land. This number should get Lawrence Kudlow of CNBC through another year or so of wildly over-optimistic predictions. Larry you'll always have March 2004.
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