Bush expected to reduce March new Jobs # so as to increase April jobs #

[papau]

http://abcnews.go.com/sections/business/US/Econ_recon_040503.html

The Week Ahead
Economic Indicators
Analysis By Ramona Schindelheim ABCNEWS Business Editor



May 3— <snip>The economy added a surprising 308,000 jobs in March and economists are forecasting more moderate gains this time around, about 175,000. There's a good chance the March numbers will be revised downward.

While 175,000 is headed in the right direction, it is only a drop in the bucket considering the economy has lost 1.9 million jobs since March 2001. All the speculation will be over on Friday when the Labor Department releases the data.

<snip>FOMC announcement at 2:15 p.m. ET: Given rising consumer and wholesale prices and an improving jobs market, there's no doubt that the Federal Reserve is going to raise interest rates soon. But it won't be today. For months, the Federal Open Market Committee said it was leaving the Fed Funds Rate — the rate banks charge each other for overnight loans — at 1 percent because it was worried about the possibility of deflation, a sustained downward spiral in prices. With prices rising, it's a good bet that the Fed isn't worried any more. The common wisdom now is the Fed will be looking at an early and gradual increase in interest rates, a balance designed to keep inflation in check without crushing the rebound in the jobs market. Most economists believe the Fed's statement will signal the first hike in interest rates at the end of the summer.<snip>

<snip>April Employment for April at 8:30 a.m. ET : This is the big report of the week. Economists are not looking for a repeat of the outsized March job gains — a surprising 308,000 jobs added to the economy. In fact, they're expecting the March gains to be revised downward by several thousand. For April, the median forecast is for an increase of about 175,000 jobs. This sounds like a lot, but it is only about 25,000 above the monthly gains needed to keep pace with growth in the labor force. While the job market is improving (we've stopped losing jobs), there's still a long way to go to make up the 1,959,000 jobs lost since the start of the recession in March 2001.
Bottom line forecast: Job creation of around 175,000 in April. <snip>

[PROGRESSIVE1]

1. Of course, Bushler is manipulating the numbers to help himself.

:argh:

[whistle]

2. What the heck?

...Now the March job numbers will be revised downward after all the hoopla by the ReThugs about the jobs growth figures during that month. Talk about playing politics with the numbers! Every month the Bush administration has pushed for the highest possible reported numbers when jobs increase and the lowest numbers when jobs decrease. Then they go back and adjust them to where they should have been. Somebody needs to tell BushCo and the republicans that playing with the numbers is not going to create jobs or stimulate the economy. It's time for a change. Move out Bush, thin out congress. Let's put Kerry in the White House and Democrats back in the majority. No more Bush!!!

[SheilaT]

3. If the March numbers are revised downward,

doesn't that actually mean that they were overstated in the first place? Meaning job creation wasn't all that terrific. And the job creation number is being quoted as a stand-alone figure, with no reference to the jobs LOST that month. Which means the net increase in jobs (which there apparently was) is still considerably less than the jobs created number.

[papau]

4. Everything true except 308k WAS the net increase! :-)

The fact is that all category's other than temp / part-time workers had about no change - so about 280000 of the 308000 jobs claimed created were "temp" .

So as the middle class learns to love our new outsourcing, non-union, no jobs world we find that Bush has created more greeters at Home Depot and Walmart, and more burger flippers nation wide!

[tritsofme]

5. These reports are always revised after the fact,

and it has always happened.

Sometimes they can even go back 10 years or more and revise monthly data.

I don't see a conspiracy behind it. You can't comment on a number that hasn't been released yet.

[dArKeR]

6. You'd have to be one National Guard Flunky to think that Junior even

had the slightest ability to comprehend anything to do with economics! Anyone ever read his term papers published? I'd give you one thing, Junior understands how to do insider trading. For example, Harken.

http://www.realchange.org/bushjr.htm