Thursday, February 12, 2004

BUSH JOBS PROMISE AIMS TO BEAT THE STREET

While the Bush jobs forecast for 2004 has been widely characterized as delusionally unrealistic, a survey of economic forecasters conducted by the WSJ due out tomorrow paints a rather sober jobs picture. On average, they predict payroll employment will grow by 155,000 jobs a month through November 2004.

That's better than a swift kick in the nuts, but it won't be enough jobs to even absorb all the new entrants to the labor market, let alone to re-employ those who have lost jobs or to reinvigorate the droves of discouraged long time unemployed who have given up looking for jobs.

Maxspeak has the lowdown--and a great picture--on the Bush administration's diminishing jobs expectations.

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