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Heads up

Key jobs report planned for Friday

By Times Staff Writer
Published October 4, 2004

Did the economy grow enough in September to give job creation a boost? Or did hurricanes and high oil prices dampen momentum?

There will be more than the usual interest in the September employment report, which the Bureau of Labor Statistics plans to release Friday. For one thing, it will be the last monthly report before the Nov. 2 presidential election. It also will be the first report to include any effect from the summer hurricanes.

The September report will reflect job losses in the immediate aftermath of Hurricanes Charley and Frances, but not Ivan and Jeanne. That's because it counts as employed anyone who worked at least one hour during the payroll period that includes the 12th of the month.

Last month, the Labor Department reported the country added 144,000 jobs in August, a rate considered lackluster for a recovering economy but an improvement over preceding months.

Many economists are predicting a number closer to 140,000 for September, but admit that trying to factor in the hurricanes' effect makes their forecasts more of a guess than usual. The unemployment rate is expected to remain steady at 5.4 percent.

Job creation has been an issue in the political campaign, with Republicans arguing that the situation is improving and Democrats pointing out that the economy hasn't replaced the jobs lost during the recession or kept up with population growth. Productivity improvements and the shipping of jobs overseas get part of the blame.

[Last modified October 2, 2004, 16:59:06]

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