U.S. Executives Still See Job Growth Lagging

[Spazito]

CHICAGO (Reuters) - U.S. economic growth may have sizzled in the third quarter, but unimpressed corporate executives said on Thursday that job expansion and long-term business investment are still lagging.


"We're going to wait until I have orders in hand," said John Kispert, chief financial officer of KLA-Tencor Corp., a top manufacturer of equipment used in microchip production, in regards to hiring more workers and making new investments.

<snip>

However, as the economic recovery picked up steam in the third quarter, 41,000 nonfarm jobs were lost, bringing the total lost since President Bush (news - web sites) took office in 2001 to 2.6 million. The Bush administration has vowed not to rest until the job market catches up with the recovery.

<snip>

"I still think that the overall macroeconomic environment worldwide is a bit sluggish," said Joseph Galli. "There've been so many manufacturing closures and so many downsizing activities in Fortune 500 companies that I still think there's an impact there."

more

http://story.news.yahoo.com/news?tmpl=story&cid=1896&e=1&u=/nm/economy_gdp_companies_dc

[mumon]

1. BUSH LIE OF THE DAY!

The Bush administration has vowed not to rest until the job market catches up with the recovery.


WHAT ABOUT THAT LOOOONG WEEKEND VACATION HE'S GONNA TAKE????

[UpInArms]

2. you mean the one he has been on

since January 20, 2001 - the day he handed the reins over to Cheney and the PNACers?

[teryang]

3. They are gonna keep looting the treasury

...until everyone has a job.

[Nottingham]

4. Jobs aren't lagging in India!

:bounce: just here!

[stickdog]

5. How does the GDP grow a full 2% on just over four months

while well over 50,000 jobs are lost?

Somebody's cooking the numbers.

[PROGRESSIVE1]

6. The higher GDP is due to the following:

Tax Cuts, primarily for the wealthy, Defense Spending,
people buying on credit, and the housing boom!!!

Higher productivity from fewer people does not equal an improving job market Mr. Kudlow!

[area51]

7. jobs lost

Reuters reported:

"... bringing the total (jobs) lost since President Bush took office in 2001 to 2.6 million."

The outplacement firm Challenger, Gray and Christmas reported @ least 4.3 million jobs lost, if I remember correctly.