Ready, Fire, Aim! - Mihail's Public Blog: George W's Achilles heel

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Friday, September 5, 2003

George W's Achilles heel

While the percentage of unemployed dipped to 6.1% from 6.2% (which I find suspect since this number may be dependent on accounting for only those people actively looking for jobs vs those who've given up and are taking time off doing other things) there are no signs that jobs are coming back. So George W. and his Republican management team should continue to do what it is doing: that is, not much, when it comes to the economy. According to this New York Times story (registration required):

In its monthly employment survey, which it said was probably not impacted by the August 14 blackout in the Northeast, the Labor Department said that non-farm payroll employment fell by 93,000 last month. It is the seventh consecutive decline in employment, and was the biggest monthly decline since March.

...The fact that rising demand is not prodding employers to add workers suggests that the economy may need to expand at a much more rapid rate than previously thought in order to generate job growth.

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