White House: 2.6 Million New Jobs in '04

[La_Serpiente]

White House: 2.6 Million New Jobs in '04

WASHINGTON (Reuters) - The U.S. economy should shed its jobless label this year with the creation of about 2.6 million new positions, the White House forecast on Monday.

If realized, the jobs turnaround could help President Bush (news - web sites)'s re-election prospects. Bush has faced withering fire from Democrats over the lack of new jobs.

In the annual Economic Report of the President, the White House said the number of workers on U.S. non-farm payrolls was likely to rise to an average to 132.7 million this year from a 2003 average it thought would come in at 130.1 million.

According to the latest jobs figures released by the Labor Department (news - web sites) on Friday, which incorporated data revisions, payroll employment averaged just 129.9 million last year.

more...

White House: 2.6 Million New Jobs in '04

[lcordero]

1. "withering fire" on lack of new jobs?

Not by a longshot.
The January job totals are going to be revised down a couple of times and, more than likely, into the negatives.

[Richardo]

2. As the saying goes: "Interesting if true."

There there, keep telling yourself everything's OK, Karl. Just keep telling yourself that.

[Atman]

3. Is this a joke?

What, are they worried the Diebold re-election scam might be too tough to pull off? So instead they're gonna release a faked jobs report? I mean really...is it April 1st already?

[lovedems]

4. Just like all of the new jobs that were suppose to be created because

of the generous tax cuts and incentives? Do they suffer from short term memory loss that bad? Have they forgotten that all of their "predictions" have proved to be bunk? All have been overstated (in terms of recovery) or understated (in terms of the deficit or actual cost of a policy)?

The bu$h administration has officially "left the building". Rather, they have left the planet.

[vanityfair]

17. Bushco's crystal ball

has clouded over. Their "prediction" that they will create 2.6 million jobs by the end of the year just won't happen.

(Unless they are talking about the jobs they will create by outsourcing to India and other countries.)

[papau]

5. All self-employed "consultants" with no income!

sigh

:-)

[Frodo]

6. All I need to know is...

... how many did they forcast for LAST year?

And how many did we actually get?

[54anickel]

7. From the article:

Last year, the Bush administration was looking for the creation of about 1.7 million jobs. But the economy actually lost 53,000 jobs, bringing the total number of jobs lost since Bush took office to 2.2 million.

[Frodo]

9. I wonder where the other million is?

I thought it was 3 Million jobs lost total?
2.2Million minus the Jan creation numbers is almost off a full Million.

[54anickel]

11. I dunno. The numbers keep changing. Maybe no ones knows what

the real number is anymore. (They certainly don't seem to care much)I've mostly seen it reported as 2.8 million lost since he took office.

[Frodo]

12. So we've lost a grip on what has been lost?

How will we ever know if we've found it again?

[54anickel]

13. Here Frodo, I'm sure you will agree with these guys.

http://www.factcheck.org/article.aspx?docID=101

[Frodo]

14. What am I looking to agree with?

They had a number at 2.7Million, which I guess was close to what I had seen. Maybe people here just continue to bat about an old number because it's more politically powerful, but I could swear I had seen 3Million.

[junker]

8. love them numbers! This requires 228,000 jobs a month to be 'real'

over each and every one of the next 10 months WITH NO revisions of previous months.

Futher, to employ 2.4 million more people will require at least

48,000,000,000 dollars in new investment or orders for goods to be injected into the economy over these 10 months to support at least an 8 dollar per hour minimum pay rate for these 2.4 million jobs.

This is a whole buncha new bucks aimed at ????what????

What are all these people gonna be doing? Tech is dying in the USofA, investment from VC's is dead and has been since 2001. Most other jobs are outsourced if possible.


OH, wait a minute. Did bushie say these jobs were to be created in America? Or does he mean India...easy for him to confuse them I am sure.

[54anickel]

10. Most of us will end up in Wal-Mart along with Indians and Russians

http://www.forbes.com/home_europe/newswire/2004/01/11/rtr1206299.html

NEW YORK, Jan 11 (Reuters) - Wal-Mart Stores Inc. (nyse: WMT - news - people) Chief Executive Lee Scott said on Sunday that India and Russia were ripe for retail expansion, but China had the potential to rival the United States in growth opportunities.

In a speech at the National Retail Federation convention here, Scott said India, with a middle class of 50 million to 60 million people, is ripe for expansion.

While he said he was "very excited" about opportunities in Russia as well, China was the only country in the world that offered the chance to "replicate what we've done in the U.S."

Wal-Mart owns only a few dozen stores in China, and Scott said it was "difficult" to open stores there. But with a population of 1 billion, the possibilities were huge, he said.

snip>
In the U.S., Scott said he expects 2004 sales to be modestly better than in 2003. Tax cuts last year will likely lift overall consumer spending as people cash bigger tax refund checks.

Scott said Wal-Mart was sticking to its plan to open about 220 new supercenters in 2004.

[tedzbear]

15. It's not gonna happen! See my link...

http://cbs.marketwatch.com/news/story.asp?guid=%7BF0542557%2D91DC%2D4D0C%2D8033%2DA1E9BBE67CC6%7D&siteid=mktw

:kick:

[54anickel]

16. Well I suppose 300,000 a month could be a slam dunk for Shrub , but

not without some creative accounting.