Higher Employment and Lower Unemployment a Bad Thing?

Posted by Moonage on 08 Jul 2005 | Tagged as: The Media

Hiring around the country picked up in June with employers adding 146,000 jobs helping to push the unemployment rate down to 5 percent, the lowest in nearly four years.

The modest payroll gain of 146,000 jobs in June was up from 104,000 net jobs added in May. Payroll growth for both April and May turned out to be better than the government previously reported. Still, the strength of job growth seen in June was likely to disappoint economists. Before the release of the report, they were forecasting a more robust increase of around 195,000 jobs for the month.

It never ceases to amaze me how media constantly painted a rosy picture under Clinton even when the economy was tanking, but absolutely feels compelled to paint a negative picture under Bush.  As far as that 195,000 quote, it should have been worded something to the effect of "Economists project growth wrong again".  It’s not the economy failing the "economists", it’s the economists getting it wrong and some media twisting that fact to suit their agenda.

Here’s the straight and narrow picture of what is happening:

Things are looking pretty good to me.

Apparently the investment community’s not too terribly disappointed either.  Since that announcement that Yahoo translates to be disappointing, the DOW is up 157.51, the NASDAQ is up 38.10, and S&P is up 14.82.

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