Unemployment Below 5.0%
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An estimated 169,000 net new jobs were created in August, according the the Bureau of Labor Statistics.
More noticeably, the unemployment rate ticked down to 4.9%. The number has been trending down for over two years and is at the lowest level since September 11, 2001.
I'm no shill for this administration, but it's hard to spin the employment data negatively.
Which, I'm sure, won't stop liberal economists from trying. Perhaps by reminding us that these data were collected before Katrina, or by their increasingly popular tactic of digging up secondary or tertiary statistics that "contradict" the positive payroll data.
More thoughts at Tax Policy Blog.
More noticeably, the unemployment rate ticked down to 4.9%. The number has been trending down for over two years and is at the lowest level since September 11, 2001.
I'm no shill for this administration, but it's hard to spin the employment data negatively.
Which, I'm sure, won't stop liberal economists from trying. Perhaps by reminding us that these data were collected before Katrina, or by their increasingly popular tactic of digging up secondary or tertiary statistics that "contradict" the positive payroll data.
More thoughts at Tax Policy Blog.
Posted by KipEsquire on
2 September 2005
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