Quote:
MOOSIC, Pa. (Reuters) - President Bush opened his post-convention drive to the Nov. 2 election on Friday by arguing his economic policies are paying off with an increase of 144,000 U.S. jobs in August.
The jobs numbers, while below market forecasts of 150,000, were respectable enough to give the Republican president a lift, and he quickly noted the U.S. unemployment rate of 5.4 percent was a point below the rate last summer and below the average of the 1970s, the 1980s and 1990s.
Bush said at a campaign rally that "because we acted our economy is growing again" and said 1.7 million jobs have been created since August 2003 and more than 200,000 in the last two months.
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Slightly below expectation, but a decent rebound from the July numbers. Summer is typically a slow time for hiring, and I predict better numbers will be released in October (i.e., the September numbers). August numbers will be modest.
