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32,000 or 629,000 Jobs Created?

Reported by Melanie - August 6, 2004 -

Stuart Varney made a special appearance today (August 6, 2004) on Dayside w/Linda Vester to explain the job number. Job Growth Grinds Nearly to Halt in July, Labor Dept. Reports. Economists had predicted that anywhere from 200,000 to 260,000 jobs would be created in June. According to today's announcment, 32,000 were created.

Varney started out by noting that the unemployment rate fell slightly to 5.5% from the expected 5.6%. As to the job number, he said that it's a "tail of two statistics," and can be seen as a huge disappointment for the economy and for Bush. However, Varney said, the Household Survey, as opposed to the Labor Department statistics, showed 629,000 new jobs created in July, "completely different" than the Labor Department number.

Guest Host Mike Jerrick asked whether or not there's a problem getting the message through to Americans to which Varney said that average Americans are suffering from higher gas prices, etc., and therefore it hurts "the perception" of what's going on and "who's best" on the economy.

COMMENT: Sounds like Varney got the memo. See, "Spinning of the Job Numbers," posted earlier today by Eleanor.