White House predicts healthy job creation! (Yeah, right!)

[rfranklin]

(Have these assholes even peeked over the edge of the hole their in yet?)


White House upbeat on growth
Updated economic forecast sees healthy job creation
By Greg Robb, MarketWatch
Last Update: 3:21 PM ET June 8, 2005

WASHINGTON (MarketWatch) -- The U.S. economy should continue on a healthy and sustainable pace, the White House said in its updated economic forecast released on Wednesday.

The administration shaved its forecast of GDP growth to 3.4% in 2005 from its previous estimate of 3.5%, but said this was due to technical factors.

"In the scheme of things...they are really about the same. The updated forecast remains largely as what we projected six months ago," said Harvey Rosen, chairman of President Bush's Council of Economic Advisors, in a teleconference with reporters.

The forecast for job growth was revised up slightly, to an average of 178,000 new payroll jobs created a month from the previous estimate in December of 175,000.

The administration slightly lowered its forecast for the unemployment rate to 5.2% this year, down from its previous forecast of 5.3%.

[AllegroRondo]

1. Where, China?

[lectrobyte]

4. Yes, definitely.

Interestingly enough, I heard on the news this week that GM is cutting 25K US jobs, and the new Chevy Equinox engines are built in China.

[Starfury]

7. Silly!!! Just pick up your application at Wal Mart....n/t

[aden_nak]

2. No forecast on median sallaries at those new jobs, I bet.

Welcome to America. Here's your paper hat. Now go to work.

[CitrusLib]

10. Course not. It would probably weigh in some where around minimum wage.

[ihaveaquestion]

3. What? Again?

I thought we already had "job growth"!

:sarcasm:

[Squeech]

5. No, I think this is how it works

We predict double digit growth in the number of Murkins whose life resembles the book of Job.

[The_Casual_Observer]

6. Yes, and we are making "good progress" in Iraq too.

[HockeyMom]

8. Dell Techie

just left my house about hour ago after replacing my daughter's lap top motherboard. Mr. Hussein (his name - no joke) could barely speak English.

[CitrusLib]

9. But what kind of jobs?

*drumming fingers* My husband is on his 14th month of unemployment. Bagging groceries is an honorable profession, but kind of a waste of his education and the hit to his ego is making him really, really not much fun to live with.

[cthrumatrix]

11. sure...just go ask GM.... as the Toyota CEO is afraid GM is going

out of business so Toyota wants to "raise prices".... to avoid a "backlash"...go figure.

[FreakinDJ]

12. I wanted to laugh - but its just to sad

Dumecough