Before the market opened, the Labor Department said the nation's unemployment rate dropped to 5.7 percent in December, but that companies added only 1,000 new jobs in an anemic holiday-hiring performance.
Analysts had been expecting a gain of 100,000 to 150,000.
Although December's unemployment rate was the lowest in 14 months, it reached that level because fewer people were looking for work, the department said. More than 300,000 people gave up their search for jobs and dropped out of the pool of available workers, the department said.
"Take your pick: 'awful, sobering, pathetic,'" lamented Bill Cheney, chief economist at John Hancock Financial Services.
So What did Mr. Bush have to say about this???
"We want more people still working," the president said at a small business forum. "But nevertheless, it is a positive sign that the economy is getting better."
Even Dick Cheney said it was a bad thing...
"The rate is going down, but it is going down for the wrong reasons," said Cheney. "That doesn't make you feel really good about the state of the jobs market."
So when are people going to wake up and realize this economy is in the crapper???? How many more millions of jobs must be lost before this presidents approval rating is in the crapper? And this Jerkoff wants to announce a mission to the moon and mars? Why, is that where all the jobs have gone? Check out Easterblogg on my links for more info on Bush's plan to go to the Moon and Mars (Which by the way could cost up to 1 Trillion dollars)
Anyhoo, make sure you vote this fall, especially if you're struggling to make ends meet, or can't find a job. Let's tell this president that the most important issue he faces is the DOMESTIC economy! And let's have the biggest pink slip this november handed out in the White House!
PEACE
JC
