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Unemployment drops to 4.7. 200k jobs added.


Kilmer17

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Im betting (literally) that the Dow is over 13 by the end of 06.

I think a lot of that will depend on gasoline prices this year. If gas prices go up a lot stocks like Home Depot and Walmart aren't going to do well and will keep the market down. Plus if interest rates climb, the Dow won't hit 13.

Lot of good deals out there though. Intel's P.E. is around 15 right now. Almost hard to believe.

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For those interested, when Bush was elected to his first term, the unemployment rate was 7.1.

http://www.foxnews.com/story/0,2933,183692,00.html

Also, previous months were adjusted UP.

Also, are you sure unemployment was 7.1% in 2000?

Becuase the Bureau of Labor has it hovering around 4% in 2000.

http://data.bls.gov/PDQ/graphics/LNS14000000_9367_1138990136648.gif

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Also, are you sure unemployment was 7.1% in 2000?

Becuase the Bureau of Labor has it hovering around 4% in 2000.

damn, I should know better.

No, I got these off of Democratic Underground.

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=2083412&mesg_id=2084054

Also, according to the dept of labor, Im unemployed. As are thousands of farm workers who dont stay with the same farm for more than 3 months. So yes, they have changed that formula.

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Average wage rose to as well. Over 16 bucks an hour.

But did it rise at a level to match or *gasp* even exceed inflation? Honestly, I haven't looked - but I tend to think historically that the answer will be a resounding no.

I know my spending power has decreased due to large increase in gas (and as a result of that increase) an increase in consumer good prices (those companies passing on their costs due to increased fuel prices).

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Yeah the average wage jumping is a big pain in the ass for me

When I started my company a few years ago, I could get guys to work for 10 bucks an hour

Now grunt workers are asking for 20 bucks an hour and foreman 30 bucks an hour, FOR PAINTING

I thought they were bs'ng me at first, but a few mornings in front of a few different Duron stores told me otherwise

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Just went to the yahoo frontpage and one of the top stories talks about what I was mentioning earlier.

http://news.yahoo.com/s/csm/20060203/ts_csm/apocket

Americans are working as hard as ever, but their paychecks aren't keeping pace with rising inflation. That means trouble for their pocketbooks - and for an economy that's fueled by their spending.

and also mentioned is that the Consumer Price Index rose at a higher rate than job pay this past year.

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Pay may not be keeping up, but no one is saving either and they are leveraging themselves into precarious financial positions. Reverse Mortgages and Interest onlys are allowing people, who shouldn't be able to afford certain homes, to purchaces them. Which in turn allows for more increase in cost of the houses. The people in the US live in much more space per person than anywhere else in the world. A report came out that we, as americans, average 600 square feet per person in our homes. Conversely people in Eastern Europe average 300 square fet per person and in Japan 100 square feet per person. We are raising our expected standards of living without getting better paying jobs.

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Also, are you sure unemployment was 7.1% in 2000?

Becuase the Bureau of Labor has it hovering around 4% in 2000.

http://data.bls.gov/PDQ/graphics/LNS14000000_9367_1138990136648.gif

Link doesn't seem to work for me.

But I do seem to remember unemployment was "low" when Clinton left. (Although I seem to remember that it was going up. For some time under Clinton, I kept hearing "economic experts" on the news shows saying that Wall Street was worried that unemployment was too low.)

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