It has been frequently stated in this blog that German correspondents in Washington are quite a special pack. They may differ in many respects, but there is one common trait that seems to rank high among their job requirements: hatred, or at least dislike, of US President Bush.
Today's entry: Peter De Thier.
His reporting on President Bush and his policies has an obvious negative slant, whatever the topic:
De Thier's view of John Kerry is, hmm.., slightly more sympathetic ("Kerry wants a sound balance.").
It is amazing that a respected business paper such as "Boersenzeitung" would give Bush-hater De Thier a forum for his completely off-the-mark forecast of the US job market. Comment by De Thier in Boersenzeitung, February 21, 2004:
...the trend in the US industry to move production to low-wage countries continues. While this had been true for manufacturing it is now catching up in the service sector, too.
... President Bush followed a dangerous illusion when he promised millions of new jobs in the USA. Tax reductions and robust economic growth will not suffice to stop this development. Bush should be lucky if in spring and autumn there is any positive trend at all in the job market.
Payroll growth of 288,000 comes in well above forecasts; unemployment dips to 5.6 percent.
NEW YORK (CNN/Money) - Employers added jobs at a surprisingly rapid clip for the second straight month in April and the unemployment rate fell, a government report showed Friday, as the nation's labor market finally showed signs of sustained improvement. ...
Payrolls grew by 288,000 jobs last month, the Labor Department reported, well above the 173,000 economists had forecast, according to a survey by Reuters. The number even topped the highest forecasts of about 250,000.
The department also revised its reading on March job growth to 337,000 jobs from the 308,000 reported last month. That gave the economy an average monthly gain of 217,000 a month so far this year, even with weaker-than-expected growth in January and February.
The unemployment rate eased to 5.6 percent from 5.7 percent in March.
After the economy lost 2.7 million jobs from the start of 2001 until August 2003 -- well after the recession ended -- payrolls have now grown for eight straight months, adding 1.1 million jobs.
Job growth in April was widespread.
It's so much easier to forecast the past than the future... especially if your mindset is clogged by anti-Bush rage.