Sports and my thoughts

Friday, February 03, 2006

Thoughts: This awful economy

Just ask any liberal, this is the worst economy in a 100 years. The Great Depression has nothing on this economy. But yet the unemployment has dropped to 4.7%.

Employers stepped up hiring in January, boosting payrolls by 193,000 and lowering the nation's unemployment rate to 4.7 percent, the lowest since July 2001.

The fresh snapshot of the jobs climate, released by the Labor Department on Friday, suggested that the economy started the new year on fairly good footing.

Although the 193,000 gain in payroll jobs in January fell short of the 250,000 new jobs that economists said to anticipate before the release of the report, it still marked a sturdy showing and was the biggest increase in jobs since November.

"There's no question we're getting back to better days for job creation," said Ken Mayland, economist at ClearView Economics. "There's been a sense of unease in the American workplace and this should help relieve that. The economy is getting on off to excellent start in 2006."

Moreover, job growth in December turned out to be stronger than previously thought. Revised figures showed payrolls expanded by 140,000 _ an improvement over the 108,000 new jobs first estimated a month ago. Employment was revised up for some previous months as well.

The unemployment rate dropped to 4.7 percent in January, from 4.9 percent in December.

Prove positive that cutting taxes works.

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