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Thursday, August 14, 2003

August economic fact sheet. 

From Tompaine.com, job and unemployment figures for August, 2003:

Joint Economic Committee Democrats

August 2003 Fact Sheet

With President Bush gathering his key economic advisers on August 13th for a summit on the economy, it is sobering to see what has happened to various economic indicators since last year's Waco summit:


The unemployment rate has risen 0.4 percentage points to 6.2 percent, for an increase of 2.1 percentage points since President Bush took office.
348,000 private sector payroll jobs have been lost, for a total loss of 3.2 million jobs since President Bush took office.
621,000 manufacturing jobs have been lost, for a total loss of 2.5 million manufacturing jobs since President Bush took office.
429,000 workers have joined the ranks of the long-term unemployed, for a total increase in the long-term unemployed of 1.3 million since President Bush took office.
Over 2.3 million workers have exhausted all of their Unemployment Insurance benefits.
1.8 million workers have lost their jobs due to mass layoffs.
Consumer confidence has sunk 18.9 percent, for a total decline of 34 percent since President Bush took office.
The 2003-2007 federal budget deficit projections have soared $1.7 trillion, for a total increase of $3.9 trillion since President Bush took office.
The Federal Reserve has cut rates twice to stimulate the flagging economy, for a total of 12 rate cuts since President Bush took office.
Clearly, President Bush needs to go back to the drawing board and come up with better policies for creating jobs and growth, and for restoring fiscal responsibility.

To see a copy of this report go to: http://jec.senate.gov/democrats/reports.htm


# posted by scorpiorising : 1:49 PM |

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