The preznit was quick to latch on to any life raft he can find in an ocean of bad news for his administration.The economy resumed a brisk pace of job growth in November, the government reported today, as the negative impact of Hurricane Katrina subsided and rebuilding in the Gulf Coast drove up construction and other employment.
American businesses added 215,000 jobs last month and the unemployment rate held steady at 5 percent, the Labor Department reported. That is more than the 150,000 jobs needed to keep pace with population growth. The latest figures, which showed growth in every major sector of the economy, should assuage concerns about the previous two months when there was virtually no growth.
President Bush was quick to laud the figures, saying the economy is in "good shape" during a brief unscheduled appearance to read a statement at the White House today. "Our economic horizon is as bright as it's been in a long time," Mr. Bush said, adding, "We're not going to rest until every American who wants a job can find one."But hold on, there. Apparently the "share the wealth" isn't spreading evenly across the land.
About 20.5 percent of those who evacuated were counted as unemployed, which means they were actively looking for work but could not find a job. The unemployment rate among people who had not returned home was far greater, 27.8 percent, than among those who had come back, 12.5 percent.Well, hey. Things are looking up for the whites, so everything's ok! It's party time at the GOP!
Though the unemployment rate was steady across the labor force, the rate jumped for blacks jumped to 10.6 percent in November, from 9.1 percent the month before. The rate for Hispanics rose to 6 percent, from 5.8 and fell to 4.3 percent for whites, from 4.4 percent.
No comments:
Post a Comment
Be Nice