337k New Jobs
The anti-Bush crowd hung their hat on the "Bush is first President to lose jobs" argument. As a member of The Motley Fool, I don’t know how many times that got repeated. Over and over, it’s the ultimate sign of why Bush could not be re-elected.
Now, we get another "October surprise", Job Growth Soars. 337,000 new jobs in October.
I have been advocating the argument that the demographics of the US are changing and that the Payroll Column BLS uses is not as reflective of the income potential of the US that it used to be. However, the anti-Bush crowd holds on to it as their Holy Grail even if they are not economists. Here’s the latest lowdown on that:
Payroll jobs as of January 2001, 132,388,000.
Payroll jobs as of September 2004, 131,567,000
New Jobs added, 337,000, making
Payroll jobs as of October 2004, 131,904,000
Balance of jobs, -484,000
Needed per month for remainder of term, 242,000
And we’re gearing up for Christmas.
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Tags: 2004 Presidential Election
