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Invisibleluvdemshrooms
Two inch dick..but it spins!?


Registered: 11/29/01
Posts: 34,239
Loc: Lost In Space
Indecision is a terrible thing!
    #2396107 - 03/02/04 06:56 PM (14 years, 1 month ago)

Coming from a left leaning media though it's really no surprise.





February 29, 2004
IT'S ALL RELATIVE

Is 5.6 percent a low figure, or a high one? Depends. If only 5.6 percent of hamburgers are discovered to contain meat, that?s way low. But if 5.6 percent of teachers are using their students as drug mules in elaborate Asian heroin importing schemes, that?s sort of high.


We?re comparing apples and oranges here. Or junkies and burgers. What if we compare similar or identical figures on the same subject, and from the same source?


Here?s CNN in July 1996, as the Clinton-Dole election approached:

Economists didn't expect June's unemployment rate to be much different from May's, which was an already-low 5.6 percent. But in fact, it did fall -- to 5.3 percent. The unemployment rate hasn't been that low since June 1990.


So 5.6 percent is ?already-low?. Now here?s CNN in December 2001:

The U.S. unemployment rate jumped to 5.7 percent in November - the highest in six years - as employers cut hundreds of thousands more jobs in response to the first recession in a decade in the world's largest economy.


Can you ?jump? to a figure 0.1 percent above that already defined as ?low?? More from CNN, this time in March 2002:

The U.S. unemployment rate fell to 5.5 percent in February and businesses added jobs for the first time since last summer, the government said Friday, as the labor market began to recover from a downturn that led to more than a million job cuts in 2001.


The jobless rate fell from 5.6 percent in January as employers added 66,000 jobs to payrolls ...




That should read ?fell from an already-low 5.6 percent in January?, surely. In January, CNN?s Mark Gongloff decided that an unemployment rate of 5.7 percent was bad news for Bush:

Though the unemployment rate posted a surprising decline, and many economists believe the job market will improve in 2004, Friday's report probably will keep Fed policy-makers on hold and may put some political pressure on President Bush.


A weak job market could prove tough for President Bush as the November election approaches.




Gongloff repeated his line about Bush?s election chances earlier this month when a familiar number appeared:

The unemployment rate fell to 5.6 percent, the lowest level since January 2002, from 5.7 percent in December.


A weak job market could prove tough for President Bush as the November election approaches.




Why? It didn?t for Clinton.


Link


--------------------
You cannot legislate the poor into prosperity by legislating the wealthy out of prosperity. What one person receives without working for another person must work for without receiving. The government cannot give to anybody anything that the government does not first take from somebody else. When half of the people get the idea that they do not have to work because the other half is going to take care of them and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for that my dear friend is the beginning of the end of any nation. You cannot multiply wealth by dividing it. ~ Adrian Rogers


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Offlinephi1618
old hand

Registered: 02/14/04
Posts: 4,102
Last seen: 7 years, 11 months
Re: Indecision is a terrible thing! [Re: luvdemshrooms]
    #2396324 - 03/02/04 08:01 PM (14 years, 1 month ago)

Here are two articles from the monthly labor review online (bls.gov):

U.S. labor market in 2001: economy enters a recession
http://www.bls.gov/opub/mlr/2002/02/art1exc.htm

Employment in 1996: jobs up, unemployment down
http://www.bls.gov/opub/mlr/1997/02/art1abs.htm

The point is that in 1996, unemployment fell from 5.6 to 5.3 percent.
In 2001, unemployment rose from 5.1 to 5.7 percent.

5.6 is low when compared to unemployment rates in the dates 1990-1996, high when compared to the rates 1997-2000.


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