:: blame the extended gestation.... ::

:: Friday, November 07, 2003 ::

The New Republic Online: Economy: David Hale 11.06.03, 12:15 p.m.

"The U.S. economy has lost 2.7 million jobs since Mr. Bush took office. It was natural for the economy to lose jobs during 2001, when the collapse of telecom and information technology capital spending produced a recession. But what has been distressing is the failure of the recovery since late 2001 to produce jobs."

"The Bush administration has been losing jobs at a rate of 90,000 per month. The third quarter was especially frightening because 7.2 percent output growth failed to produce any jobs. There have been 38 quarters since 1947 in which output growth exceeded 7.2 percent. The most recent quarter was the first such quarter in which no job growth occurred."

:: Jim Nichols 11/07/2003 04:45:00 PM [+] ::
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