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.


--
"There's an old saying in Tennessee - I know it's in Texas, probably in
Tennessee - that says, fool me once, shame on - shame on you. Fool me -
you can't get fooled again." -George W. Bush, Nashville, Tenn., Sept.
17, 2002

"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 the BLS:

Total Employment and the Labor Force (Household Survey Data)

"Total employment rose by 629,000 to 139.7 million in July, and the employ-
ment population ratio--the proportion of the population age 16 and over with
jobs--increased to 62.5 percent. The civilian labor force also increased
over
the month, rising by 577,000 to 147.9 million, and the labor force
participa-
tion rate rose to 66.2 percent."

"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."

- - - - - - --

Try looking at the big picture Harry.

jim-- wrote:

"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 the BLS:

Total Employment and the Labor Force (Household Survey Data)


Nice try, **** for brains, but the payroll number is the one that
counts...Your buddy Nobby tries to play that game, too, but it doesn't
work for him, either, and he's a lot brighter than you are.



--
"There's an old saying in Tennessee - I know it's in Texas, probably in
Tennessee - that says, fool me once, shame on - shame on you. Fool me -
you can't get fooled again." -George W. Bush, Nashville, Tenn., Sept.
17, 2002

jim-- wrote:

"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


What Americans look for is job creation, **** for brains, and job
creation is in the toilet.





--
"There's an old saying in Tennessee - I know it's in Texas, probably in
Tennessee - that says, fool me once, shame on - shame on you. Fool me -
you can't get fooled again." -George W. Bush, Nashville, Tenn., Sept.
17, 2002

****Employers added a lackluster 32,000 workers to payrolls last month,
but Wall Street economists had looked for a payroll gain of 228,000.

These numbers spin like a top.

The US economy needs about 150,000 net new jobs per month simply to absorb the
increase in the workforce.

228,000 new jobs could be said to *reduce* unemployment by about 78,000 jobs.
That would be the net effect of 228,000- and it would be very good news.

Unfortunately, 32,000 new jobs is 118,000
short of the increased demand in a month,
so that means 118,000 more people who would lke to work cannot find an
opportunity to do so.....

Not very good news at all.

These news organizations, left, right, or unbiased, should express these job
totals
in a supply/demand format. 150,000 would mean that from an employment
perspective, at least, the economy was stagnant. Plus 150,000, employment is
picking up. Short of 150,000, employment is in decline.

It's a lot more complex than who's in the WH, but the sitting Prez never fails
to take credit when the news is good and his detractors never fail to tarnish
him when the news is not.

Try looking at the big picture Harry.

Yeah. Ignore that report published by a division of the govt. that reports to
Bush. :-)

"Gould 0738" wrote in message
...
Try looking at the big picture Harry.

Yeah. Ignore that report published by a division of the govt. that reports
to
Bush. :-)


I didn't. I see many positive indicators in the economy as I just posted.

The difference between you and me is that I don't go through life with a
continuous negative outlook and think the sky is always about to fall. ;-)

A story just for you Chuck: http://www.geocities.com/mjloundy/

The difference between you and me is that I don't go through life with a
continuous negative outlook and think the sky is always about to fall. ;-)



Ah yes. The RWR buzz word. If you don't think Bush and his programs are the
greatest thing since Christ walked on water, you're either "partisan",
"pessimistic", "negative" or what not.

Pollyanna was a Bush Republican.

I have no interest in promoting your insult by following a link. If you have
something to say, do so. If you can.

Going on 18 months without a job.
Interviews, yes, but no offers.
Employers are extreamly rude now too. They used to send a nice blow-off
letter at least,
but now they just ignore you. Won't return calls, won't answer email. Just
plain gwb rude.
4 college degrees between my wife and I, and an income less than one third
federal poverty level.
Lots of social help and subsidies though. I guess w stands for welfare. It
sure as hell doesn't stand for work.
When bubba was prez, I'd have at least one headhunter per week calling me
up.
I must be a millionare though... I pay zero income tax now. thanks dumbya.



"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.


--
"There's an old saying in Tennessee - I know it's in Texas, probably in
Tennessee - that says, fool me once, shame on - shame on you. Fool me -
you can't get fooled again." -George W. Bush, Nashville, Tenn., Sept.
17, 2002