The Bush boom -- Republican economics as usual:

Payrolls Barely Rise, Worse Than Expected

American employers barely took on any new workers in December, a disappointing government report on Friday showed, indicating the economic recovery has yet to translate into sustained jobs growth....

--Reuters

At the Luxury End, Holiday Sales Were Hopping

The nation's high-rolling shoppers, full of pent-up desire to spend, propelled luxury stores like Neiman Marcus, Tiffany and Saks Fifth Avenue to hearty increases last month, but over all, many merchants were disappointed by the holiday season. Store sales for last month, measured against the same stores open in December 2002, rose 3.7 percent, according to the Bloomberg composite same-store sales index. Last year, called one of the worst in decades by analysts, holiday sales rose 2.2 percent....

The Bloomberg index for department stores rose only 1.62 percent, weighed down by the more traditional department store chains - Federated and the May Company - which barely eked out a positive comparison with last year. Saks, on the other hand, rose more than 9 percent and Tiffany rose 16 percent. "Luxury is back,'' Jaqui Lividini of Saks said.

Yesterday, Karen Katz, chief executive of Neiman Marcus, said that handbags - especially those by Chanel, Prada and Gucci - had been "absolutely miraculous." Next in line of importance was jewelry, especially watches in the $1,000 category by Michele and Phillip Stein, a new brand made by Teslar.

Speaking about the Philip Stein watch, which sells from $700 to $2,000, Ms. Katz said Neiman "started getting the buzz, and then when Madonna gave one to Oprah, it's been amazing." ...

--New York Times