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November 15, 2009

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Letter: Only fuzzy math will show economic gains

Monday, Oct. 8, 2007 | 7:15 a.m.

The U.S. Bureau of Labor Statistics' most recent report states that 89,000 new jobs were created in August, which is being hailed by the Bush administration as a fantastic economic gain after a loss of more than 4,000 jobs reported a month ago. One has to wonder how these statistics are created.

Overall unemployment in all sectors is up to 4.7 percent, and up to 8.1 percent for blacks and 5.7 percent for Hispanics. Job growth for the first quarter of the year was reported at 142,000, for the second quarter at 126,000. The rate is slowing.

How does a slowing of job growth and an increase in unemployment constitute an improvement?

Maybe I need to have these statisticians take a look at my bank account. I may be doing better than the numbers indicate.

Wallace J. Henkelman, Henderson

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