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Thread: Jobs report relieves Wall Street

  1. -1
    ohall's Avatar
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    Jobs report relieves Wall Street

    http://moneycentral.msn.com/content/...es/P132088.asp

    September's job loss was just 35,000, but there's concern the full effect of Katrina and Rita is still to come. Oil prices are flat. Troubled Delphi offers a sweet severance deal to top execs.


    The Labor Department's first employment report since Hurricanes Katrina and Rita hit the Gulf Coast indicated a decline in non-farm payrolls of just 35,000. The consensus estimate among Wall Street economists was around 175,000, and there was talk the job loss could be as great as 400,000.

    The national unemployment rate rose from 4.9% in August to 5.1% in September.
    It's a good thing we had such a good economy before Katrina hit.
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    spydertl79's Avatar
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    Quote Originally Posted by ohall
    It's a good thing we had such a good economy before Katrina hit.
    Too easy... I'm gonna hold back
    "As scarce as truth is, the supply has always been in excess of the demand."
    Henry Wheeler Shaw
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    ohall's Avatar
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    Quote Originally Posted by spydertl79
    Too easy... I'm gonna hold back
    No you can't say a thing because it is true. Again this is one of the main reasons why I distrust most of the media. When CNN and other LIB news sources talk about the economy that is when their bias is revealed.

    Again I am not surprised you type the things you type, you are under their spell so to speak.

    You need to do your own research from what CNN tells you. Honestly the truth is simply not very important to them!
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    zach13's Avatar
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    Actually, they also revised upwards the job gains in some previous months.

    The CBO also announced today that the deficit will come in much lower than originally projected - $317 Billion.

    The initial estimate was $390 Billion, this was revised a few months ago to $331 billion.

    The reason for the increase? - Tax revenues continue to soar due to the cut in tax rates.
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  5. -5
    ohall's Avatar
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    Quote Originally Posted by zachseau13
    Actually, they also revised upwards the job gains in some previous months.

    The CBO also announced today that the deficit will come in much lower than originally projected - $317 Billion.

    The initial estimate was $390 Billion, this was revised a few months ago to $331 billion.

    The reason for the increase? - Tax revenues continue to soar due to the cut in tax rates.
    The estimates to rebuild NO's has also been down sized. It was 250 B now they believe it will only cost 150 B. Only what a relative word!
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  6. -6
    Ferretsquig's Avatar
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    Quote Originally Posted by zachseau13
    Actually, they also revised upwards the job gains in some previous months.

    The CBO also announced today that the deficit will come in much lower than originally projected - $317 Billion.

    The initial estimate was $390 Billion, this was revised a few months ago to $331 billion.

    The reason for the increase? - Tax revenues continue to soar due to the cut in tax rates.
    The deficit for the 05 fiscal year for the US government was around 580 billion. But apparently when we borrow from ourselves it doesnt count. Its got to be an entertaining job working as an economist for the government....that is if they actually employ any.
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    MischiefDolphin's Avatar
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    Yet more people fall into poverty every year... people who have jobs. yep. going great.




    No one could tell me where my soul might be;
    I searched for God, but He eluded me;
    I sought my brother out and found all three.

    - Poet Howard Crosby

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    ohall's Avatar
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    Quote Originally Posted by MischiefDolphin
    Yet more people fall into poverty every year... people who have jobs. yep. going great.
    It's true, but the poverty rate is improving. The poverty rate is a cyclical thing.
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    Ferretsquig's Avatar
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    Quote Originally Posted by ohall
    It's true, but the poverty rate is improving. The poverty rate is a cyclical thing.
    Its not at all. In fact as far as poverty rates go we are in a pretty historically unique period. A period of low inflation half a decade from the last increase in base measure of the poverty guidelines. Its always impressive how a nation so rich can have so many poor.

    http://www.census.gov/hhes/www/pover...v/hstpov2.html
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  10. -10
    DolFan31's Avatar
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    The unemployment rate doesnt include people who have stopped looking for jobs and also doesnt count people after so much time. The poverate rate decreased under Clinton yet it is now increasing, like it did under Bush I, all over again.
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