November 24, 2003

The National Association of Business Economists Raises Its Forecast

The NABE raises its forecast of economic growth for 2004:

Yahoo! News - Economists Predict Strong Growth in '04 : ...a NABE forecasting panel predicting the jobless rate will average 5.8 percent in 2004, down from 6 percent currently. The forecasting panel saw payroll employment rising by 1.1 percent, or about 1.3 million workers, not enough to replace the 2.3 million jobs that have been lost since Bush took office in January 2001.

While Democratic opponents are expected to point to weak job growth as a sign of Bush economic failures, the White House is apt to contend that the stronger economic growth is an indication that the president's tax cuts are starting to work. The NABE outlook, assembled by a panel of 28 forecasters from various industries, predicted that the overall economy, as measured by the gross domestic product, or GDP (news - web sites), will grow by 4.5 percent in 2004...

Posted by DeLong at November 24, 2003 08:49 AM | TrackBack

Comments

How great is the chance that the jobs will start to dwindle to the point of almost being non-existent, or worse yet, stop happening altogether?

Posted by: Brian on November 24, 2003 10:27 AM

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Go,go Brad go!

Posted by: Gnao on November 24, 2003 02:41 PM

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2004 GDP at 4.5%? I'll take the 'under' on that over/under. not by a lot, but that's my bet with even money.

Posted by: wcw on November 24, 2003 06:21 PM

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The democrats need a jobs policy and they need unified support for it from house, senate, and presidential candidates. People are nervous - first mfg jobs moving and now outsourcing of tech and business jobs. If the democrats have a positive and concrete set of U.S. job creation policies they can take congress and the presidency in '04. Bitching about Bush and closing the borders won't cut it, but what should the policies be?

Posted by: Louie on November 24, 2003 09:32 PM

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Brian wrote: "How great is the chance that the jobs will start to dwindle to the point of almost being non-existent, or worse yet, stop happening altogether?"

What does that mean?

Posted by: Michael on November 25, 2003 01:21 PM

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