October 6, 2007
Actually it was bright all along...
BBC NEWS: US employment outlook brightens:
The US Labor Department said the economy added 110,000 new jobs in September, higher than the 100,000 figure predicted by economists.And rather than shedding 4,000 jobs in August as initially estimated, 89,000 new jobs were actually created...
It was just the statistics that lagged...
And haven't we heard this story a bunch of times over the last few years? And in the Reagan years? Republican President cuts taxes, bad economic stats are savored like fine wine by certain people, and then later the statistics are revised, with little fanfare? I forget the details, but there was some economist who predicted x amount of growth following Reagan's tax cuts. And he was just ridiculed. And the a couple of years later it turns out he was right on the money with his prediction, but somehow nobody noticed or nominated him for any prizes...(Thanks to Orrin)
Posted by John Weidner at October 6, 2007 7:31 AM