The real world, not Bush's world

Here's the revised job data, and the retails sales data, from January. Bush's rap about a recovery is fantasy.

Retail sales drop, jobless claims rise, inventories as expected

US retail sales fell posted an unexpected 0.3% decline in January, the first drop since September. Sales in December were revised down to 0.2% from 0.5%. On the employment front, initial jobless claims rose by 6,000 last week to 363,000, defying consensus forecasts of a 11,000 decline. The 4-week average rose by 5,000 to 350,000.
The Bush Administration is seeking to defuse an emerging controversy after White house Chief economic advisor Greg Mankiw praised the economic effects of moving US jobs offshore. Mankiw’s rationale is based on the grounds of resulting wealth to US companies stemming from reduced costs at a time when the White House is attempting to resurrect lost jobs ahead of the elections.

Source: http://www.forexnews.com/