Texas Rainmaker
Unemployment Rate = 4.4%
November 3rd, 2006 8:58 am

More good news on this terrible economy.

The unemployment rate fell to 4.4%, the lowest level in more than five years, the Labor Department reported Friday.

Adding to the sense of strength, payrolls in August and September were revised higher by a cumulative 139,000.

The separate household survey showed robust job growth of 437,000 in October, and a sharp 238,000 drop in unemployment.

But don’t expect this to lead the evening news broadcasts… especially this close to an election.

The job report may dispel some worries that the economy is slowing sharply.

Not among Democrats. The only factor that dispels their worries is whether the President has an (R) or (D) after his name. They’ll keep focusing on hourly wages, etc…

Or maybe not…

The average hourly wage increased 6 cents or 0.4% in October to $16.91, a bit higher than the 0.3% expected. Hourly wages are up 3.9% in the past year, compared with 4.1% last month.

Dammit! There has to be something bad about this economy that the Democrats can latch onto this close to an important election. Wait, we can always go back and tout the numbers under Clinton.

The average unemployment rate for Clinton’s first 6 years was 5.58%. Today’s numbers mean the average unemployment rate for Bush’s first 6 years is… 5.29%. Oops.

Nevermind, nothing to see here, move along.

Posted by TexasRainmaker |
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