Thursday, December 06, 2007

Recession? What recession?

The good economic news just keeps pouring in. GDP grew at a great 4.9% rate in the third quarter. Worker productivity is up. Unemployment remains low. Just where is this recession the left keeps claiming is at hand?

In other economic news, the Labor Department reported that worker productivity roared ahead at an annual rate of 6.3 percent this summer while wage pressures dropped sharply.

Meanwhile, a private sector report on labor market strength projected that business payrolls increased by 189,000 in November. That gain in the ADP report was well above the expectation for a modest gain of 50,000 jobs and caused economists to boost their forecasts for job growth in the government's employment report which will be released Friday.

Ian Shepherson, chief U.S. economist at High Frequency Economics, said he now looked for the Labor Department to show a gain of 125,000 payroll jobs in November rather than the 50,000 gain he was forecasting before Wednesday's report.
Talking down the economy is standard operating procedure for the Democrats when a Republican is in office. Fortunately for America they have a much harder job to do this time around.

Looks like Democrats are going to have to find another way to scare people into voting for them!

Hat tip to The Reality Hammer, one of my oldest blogging pals...

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