"Harry Krause" wrote in message
...
Stocks Tumble, Hit by Weak July Jobs Data
Fri Aug 6, 2004 10:26 AM ET
NEW YORK (Reuters) - U.S. stocks fell sharply on Friday after a U.S.
government report showed weaker-than-expected July payroll figures.

****Employers added a lackluster 32,000 workers to payrolls last month,
but Wall Street economists had looked for a payroll gain of 228,000. The
Labor Department also cut its tally of job growth for May and June by a
combined 61,000.****

"This is shockingly low," said Robert MacIntosh, chief economist at
Eaton Vance Management.


It's part of the Bush No Jobs for Americans program.


From about as unbiased a source as you can get:

http://www.chinadaily.com.cn/english...ent_362267.htm

US service index rises at faster pace

US service businesses expanded at a faster pace in July, providing further
evidence that the economy accelerated after a second-quarter slowdown.

The Institute for Supply Management's (ISM) index of financial services,
retail and other non-manufacturing companies rose to 64.8 from 59.9 in June.
The index now has exceeded 50, signaling expansion in industries that
account for the bulk of the economy, for 14 straight months.

Factory orders in June increased 0.7 per cent, the Commerce Department said.

"The service sector is humming," said Sung Won Sohn, chief economist at
Wells Fargo & Co in Minneapolis, who forecast a reading of 64. The index
"has remained at a high level for a very long time.

"We are seeing the best environment in over three years for industrial
manufacturers," Sandy Cutler, chief executive of Eaton Corp, the world's No
2 maker of hydraulic equipment, said Wednesday. "We believe we're beginning
to see this economy build broadly."

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Try looking at the big picture Harry.