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Oil Shocks Slowed October Job Growth Email Print

By S M Dixon
11/05/2005 07:28:58 PM EST

The Bush Administration's destabilization of the Middle East led to higher oil and gas prices -- which were then exacerbated by Hurricane Katrina's damage, damage the administration could have minimized with more foresight.

Now we see yet another consequence of the Bush crew's reckless policies:

Employers added only 56,000 jobs, just about a third of the number that many economists estimate is needed to keep up with population growth. The gain left the total number of payroll jobs "little changed," said Kathleen P. Utgoff, the commissioner of labor statistics.

...Auto dealers, department stores, clothing boutiques, hotels, bars and restaurants all cut jobs last month, the [Labor] department reported, after adjusting for seasonal variations.


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Oil Shocks Slowed October Job Growth | 2 comments (2 topical, editorial, 0 hidden)
Stores doing the cutting (none / 0)
I can see auto dealers making cuts.  I have a friend with a son who works at a dealership, and they're making serious cuts after seeing a 25% drop in sales with the end of "employee pricing."

But seeing department and clothing stores on the list is a surprise.  Shouldn't these outlets be adding employees to gear up for Christmas?  If they're letting people go at this point, that doesn't seem like a good sign for the holiday period.

by Devilstower on 11/05/2005 10:56:44 PM EST

Stores probably plan... (none / 0)
...to work their current stable of part-time employees 39 hours a week. That way, they get de facto full-time employees, which saves them the "trouble" of hiring new part-timers, let alone full-time employees who'd want trifling things like benefits and overtime.

by S M Dixon on 11/05/2005 11:42:26 PM EST

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Oil Shocks Slowed October Job Growth | 2 comments (2 topical, 0 editorial, 0 hidden)
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