Another look at job creation: 400,000 jobs per month must be generated till the end of 2004 to stick to White House schedule. I'm sure the cost of these will be swallowed up by propaganda of having accomplished same.
Natalia ----- Original Message ----- From: The Daily Mislead <[EMAIL PROTECTED]> To: <[EMAIL PROTECTED]> Sent: Friday, January 09, 2004 12:25 PM Subject: Bush Claims of Better Economy Don't Follow Numbers > =============================== > THE DAILY MIS-LEAD > < http://daily.misleader.org/ctt.asp?u=1731588&l=14088 > > =============================== > > ADMINISTRATION CLAIMS OF BETTER ECONOMY DON'T FOLLOW THE NUMBERS > > While the Bush/Cheney re-election website promotes the idea that the economy > is "stepping on the gas pedal," new figures released today by the Bureau of > Labor Statistics showed hiring to be flat in December 2003 with a net gain > of 1,000 jobs. A new report released today by the Economic Policy Institute > finds that the Bush administration's assertion that the president's 2003 tax > cut fell 1.615 million jobs short of its prediction for the year. > > The president publicly unveiled his 2003 tax cut last year by tying it to > job creation. In the State of the Union, Bush said, "When America works, > America prospers, so my economic security plan can be summed up in one word: > jobs." But the president's policies have failed to benefit American > workers. A National Journal piece last week noted that "The economy is so > far behind the administration's forecast that an average of 400,000 jobs > would have to materialize every month until the end of 2004 to keep to the > White House schedule. How hard is that? During the 1990s boom, such > phenomenal job growth occurred in eight months out of 102." > > The White House has thus far focused on putting a positive spin on the state > of the economy. The president said in early December, "This administration > has laid the foundation for greater prosperity and more jobs across America > so every single citizen has a chance to realize the American dream." But > so far, the widely reported increases in productivity and growth aren't > translating into jobs or higher wages. New jobs being created are paying > 13% less than those lost during the recession--$14.65/hour versus > $16.92/hour. By contrast, new jobs created during the later years of the > expansion, 1998 to 2000, paid 12% more. > > While the rapid growth of the recovery has so far failed to benefit workers, > corporate profits have increased at a rate far beyond those of previous > recoveries. According to the EPI study, previous recoveries provided an > average of 61% of total income growth - and never less than 55% -- to > workers. In this recovery, however, only 29% of the total income growth has > gone to workers' wages and benefits. Meanwhile, corporate profits have > claimed an average share of 46% of total income growth in this recovery, > compared to an historic average of 26%. > > Read the Mis-Lead --> > < http://daily.misleader.org/ctt.asp?u=1731588&l=14089 > > > =========================================================== > > Subscribe to the Daily Mislead! Go to http://www.misleader.org and enter > your e-mail address in the "Receive the Daily Mislead" box in the > top-left corner of the page. > > To unsubscribe send an email to [EMAIL PROTECTED] with only the > word "remove" in the subject line of your e-mail, or visit > http://daily.misleader.org/unsubscribe/ and follow the instructions > listed there. _______________________________________________ Futurework mailing list [EMAIL PROTECTED] http://fes.uwaterloo.ca/mailman/listinfo/futurework
