Economy? Not as bad as the media says it is
The general public has been led by the MainStream Media ("MSM") that the economy is going to blazes in a handbasket. Problem is, not so fast!
Recession is defined as two fiscal quarters with negative growth. The problem for the Democrats is that this past quarter's number is about 0.9% growth - and 0.6% the quarter before. While nothing to heartily rejoice about, there IS NO RECESSION! Yet, the Democrats keep harping on it and promising to place even more taxes on it (that policy seems to be working REAL well in Michigan, isn't it - the Dems HAVE created a recession in that state with their policies).
The old saw used to be that full employment in the US labor pool was reached at an unemployment rate of 5%. So, if we're in a recession (albeit, unemployment is a slight lagging indicator), we should see local percentages well above that, right?
Again, not so fast! From Fosters:
And some of the the towns? April unemployment rates as follows:
Still, perception is reality - we need to get out the message that the economy, while not as robust as before, is still not in a recession.
Recession is defined as two fiscal quarters with negative growth. The problem for the Democrats is that this past quarter's number is about 0.9% growth - and 0.6% the quarter before. While nothing to heartily rejoice about, there IS NO RECESSION! Yet, the Democrats keep harping on it and promising to place even more taxes on it (that policy seems to be working REAL well in Michigan, isn't it - the Dems HAVE created a recession in that state with their policies).
The old saw used to be that full employment in the US labor pool was reached at an unemployment rate of 5%. So, if we're in a recession (albeit, unemployment is a slight lagging indicator), we should see local percentages well above that, right?
Again, not so fast! From Fosters:
ROCHESTER — The unemployment rate for the United States rose to 5.2 percent in May from 4.8 percent in April, and most New England states reflected this trend. Joblessness in Massachusetts rose from 3.9 percent to 4.7 percent, for instance, and in Rhode Island, the rate went up from 6 percent to 7.2 percent.
The unemployment rate in New Hampshire and Vermont, however, went down in May. Vermonters now have a jobless rate of 4.6 percent, and in the Granite State the latest figure is 3.8 percent (down from April's 3.9 percent), which places it as the 13th lowest out of 50 states. A year ago, in May 2007, New Hampshire's unemployment rate was 3.5 percent.Do you think that having low taxes has something to do with this (start shaking your head up and down!)? So, how did Belknap County fare in May?
Belknap County 3.8 percent,
Carroll County 3.9 percent
Rockingham County 4.2 percent.
Strafford County 3.6 percent
And some of the the towns? April unemployment rates as follows:
Employment sectors: May
Alton 4.1 Barnstead 3.6 Belmont 3.5 Farmington 4.2 Gilford 3.5 Gilmanton 3.8 Laconia 4.4 Meredith 3.6 New Durham 3.7 Ossipee 5.5 Rochester 4 Sanbornton 2.9 Strafford 3.6 Tilton 3.4 Wolfeboro 3.1
Construction Employed 29,100 people in May.
Up 2,400 over April
Up 500 a year ago.
Manufacturing Employed 77,800 peopleUp 200 over April
Note: the steady hemorrhaging of factory jobs that has been a feature of this decade seems to have been staunched.
Retail Trade Employed 97,500 people in May.
Up 1,200 over April
Up 500 a year ago
Wholesale Trade Employed 28,900 people in May.
Up 400 jobs over April
Finance, Insurance and Real Estate
Employed 38,000 people in May.
Up 200 over April
Up 600 a year ago
Health Care and Social Services
Employed 82,300 people in May
Up 200 over April
Up 2,600 a year ago
Still, perception is reality - we need to get out the message that the economy, while not as robust as before, is still not in a recession.
