U.S. Added 96,000 Jobs in September, Fewer Than Expected: "'This is a weak number, no matter how you cut it,' said the chief economist at Morgan Stanley, Stephen S. Roach, adding that private sector jobs are up 'an average of only 65,000' over the past three months. 'That's a pathetic pace of job creation by corporate America.'
He added: 'If you look at jobs growth over the 34 months of this recovery, then private payroll growth is up about four-tenths of 1 percent over the entire span of this recovery. Normally, the gains are closer to 8 percent, so there is a profound disconnect between this jobless recovery and anything we have ever seen before in post-World War II history in a U.S. business cycle.'
Mr. Kerry was quick to respond to the figures today, saying in a statement: 'With 1.6 million private sector jobs lost during his term, President Bush will be the first president in 72 years to face the electorate with an economy that has lost jobs under his watch. Indeed, job creation is now 7 million jobs behind where the administration projected in February 2002 our economy would now be if we followed the president's economic plan.'"
- posted by geoff @ #