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The Economy is on the Up, But Not Up to Predicted Levels

Published October 8, 2004 in ECONOMY
By Ryan Parsons | Bureau of Labor Statistics

Non-foreign funded jobs are on the increase, with a slight halt for the month of September.
Yes, its true, or economy is on the UP. However, the outcomes still remain to be a little slightly lower than expected. This is especially true for the increase of non-foreign funded jobs during the month of September. The US government had hoped on 150,000 new jobs for September. The actual numbers show we only filled two-thirds of this quota with 96,000.

Fed Un-Wavered

Even though Senator Kerry claims this numbers to be 'disappointing,' Fed officials say they are highly confident on the future of the economy and the job rate, they therefore do not plan on halting increases short-term interest rates [a rate that has lifted from a low 1% to a still low 1.75%]. So, expect a couple more rate increases before this year is out.

Confidence Remains

With a presidential race that is extremely close, it is apparent that both sides will claim these numbers to be 'disappointing' or 'on the right path.' Since the economy hit its low back in August, 2003, there has been an increase of just under two million jobs. While the hopeful goal of added jobs was set at ~150,000 a month, our current monthly average is ~140,000 a month. Depending on which political side you are on, you may find problems or perks with these numbers.
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Compiled By (Sources)
Ryan Parsons
Sources: Bureau of Labor Statistics

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