Friday, June 04, 2004

Jobless Recovery Watch

The economy added another 248,000 jobs in May. Overall, the economy has created 1.2 million jobs so far this year, and 1.4 million since August of 2003. The Democrats' frequent invocations of Herbert Hoover and the Great Depression to describe the current US economy grow more laughable by the day. For more detailed comments and analysis , see the following:

Real Clear Politics

Q and O: Here and Here

Bill Hobbs

Last but not least, Hindrocket at Power Line has the best take of all:

The Associated Press notes that the jobs report "was good news for President Bush." But the AP wouldn't want anyone to draw the wrong conclusions, so it can't resist adding:

Still, the economy is far from the booming 1990s. Last month, 8.2 million people remained unemployed.

It's always fun when liberals do statistics. Current unemployment rate: 5.6%. Average unemployment rate during the "booming 1990s": 5.76%.

With the apparent stabilization of oil prices, the economy appears to be all but finished as a major issue for the Democrats. It is the war on radical Islamist terror, and Iraq in particular, that will probably prove the decisive issue this November.


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