""How is the Fed ever going to be able to lower rates if our economy keeps growing and adding new jobs? Shame on you Mr. Bush..stop growing the economy!! The government announced this morning that the unemployment rate dropped to 4.47% and that 180,000 new jobs were created. That was up from the anticipated 135,000 new jobs. Where are the big layoffs from the housing bubble burst? Of course the possibility exists that there will be a lag time before the housing slowdown affects the employment numbers. I know the critics will say that they are not GOOD jobs..Sure many are service jobs..but think about it we would only need additional service jobs if we needed more services? Meaning things must be growing..you cannot get a better job before you have a job.""
First of all, Bush has helped grow the economy??? I guess sending 250-350k troops to Iraq has helped expand the economy as well as wasting, I mean spending $500+ billion a year on weapons was another brillant way to expand the economy. However, our stupid I mean highly educated president has done nothing to generate real growth in the economy. The insane liquidity in the market is driving the growth and you can thank Mr. Greenspan, the Japanese & Chinese for that. What happens when the Japs and Chinese stop buying our debt or demand higher rates?
The jobs report is just U.S. Government fuzzy math. You say we would only need additional service jobs if we needed more services??? What new services are we providing??? We're adding jobs in the same services because Chipotle, Kohl's/Target/American Eagle, etc., are expanding. Those are fine jobs.... I think they pay about $8-9/hr.
Also, what is this talk about getting a better job? Who is getting a better job? If I'm not mistaken 90+% of the new jobs (180k) were service related jobs in the past month. How do you export services to the rest of the world?
In addition, the construction sector isn't being properly recorded as the two hottest construction areas (AZ, FL) in America used a LOT of illegals. Construction in FL alone is down 30+% vs. 2006 and 2006 was down approximatetly 30+% from 2005. Also, its estimated that approximately 40-50% of all construction companies that existed in FL in 2005 will no longer exist by the end of 2007.
Last, I think its very possible that a large percentage of the job growth is the result of companies reclassifying illegals as regular employees making it appear as there's been new job growth when in fact there was no growth at all. But that's just based on talking to a few executives in the PEO arena.
10nis
P.S..... Why is everyone looking for a Fed rate cut? Oil's at $64+/barrel, demand vs. supply factors are only pointing to higher prices for the majority of commodities, the Chinese want higher returns on their U.S. Treasury purchases, etc. IMO, the only way the Fed cuts rates from current levels is if some horrific event or economic meltdown forces them too.
