http://www.counterpunch.org/roberts11062004.htmlThe October Numbers
Continuing Stress on the Jobs Front
By PAUL CRAIG ROBERTS
<Republicans are celebrating 337,000 new jobs created in October, but a look behind the numbers shows the same discouraging trend of the past four years. The US economy can only create jobs in government and in areas of domestic services that cannot be outsourced or replaced with imports.
Government employment accounts for 41,000 of the new jobs. The private economy produced 296,000 jobs in October. Of these jobs, 71,000 are in construction; 36,000 are in wholesale trade, retail trade, transportation and warehousing; credit services account for 17,000 jobs; employment services (primarily temporary help) account for 55,000 jobs; school administrators and teachers and health care and social assistance account for 62,000 jobs, bars and restaurants account for 20,000 jobs.
These are not "new economy" jobs, and they are not "old economy" manufacturing jobs. Today the US economy has 2.7 million fewer manufacturing jobs and 1.26 million fewer private sector jobs than when Bush was inaugurated. The only areas of job growth are in government, waitresses and bars, education and health services, construction, and credit intermediation. Gains in these areas have been more than offset by losses elsewhere. <snip>
Read more about manufacturing and overall employment still in a deep hole.