Just remember...

Thursday, February 02, 2006
...when tomorrow's jobs report comes out: jobs growth numbers trump unemployment figures.

Analysts expect 248,000 new jobs. I'll take the over.


Rick Ballard said...

We need a headline contest.

I'll take "Job Numbers Raise Inflation Worries"

Morgan said...

"Stocks fall on jobs report, interest rate jitters"

ex-democrat said...

"Thanks To GW, I May Be Able To Get Another Job When The MSM Finally Tanks."

David Thomson said...

"We need a headline contest."

We can take for granted that the MSM will slant the story to hurt President Bush. It doesn’t matter how good the news is---it will be reported in a negative manner. This nonsense got out of hand during the 1992 presidential election. The MSM unofficially cooperated with the Clinton campaign to advance the notion that the economy was tanking. It was pure bovine excrement. I was also stunned to learn that in the presidential campaign of 2004---at least 35% of the American public thought we were in a economic recession!

markg8 said...

Seems you lose Morgan: "boosting payrolls by 193,000".

So does David for taking for granted the MSM will paint the news badly.

Unemployment Rate Declines in January

Morgan said...

193,000 new jobs. Upward revisions of 49,000 and 32,000 to November and December numbers, respectively.

Unemployment dropped sharply from 4.9 to 4.7 percent.

Wages were up 0.4% (expectations were for a 0.3% rise).

That's a very good jobs report; payroll nembers were not as spectacular as I expected, but they were solid, and I didn't anticipate that unemployment would drop at all.

Still, I lose my bet. I was anticipating a monster number in the 300,000 range, with no change in unemployment.

On the other hand, we all win the headline contest thanks to NPR. Paraphrasing:

"Unemployment dropped to 4.7%, but payrolls rose by only 193,000, less than expected, and the employment report raised fears of inflation. Analyst X says that the tightening labor market may cause interest rates to rise, which means trouble for Wall Street..."