The Jobs Situation
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Sat. Aug 07, 11:37 AM
The economy generated only 32,000 jobs in July, compared with the 240,000 analysts had expected. Job numbers for May and June were revised downward from earlier estimates. "The weak job increases of the last two months now mean that Mr. Bush is highly likely to stand for re-election with an employment level lower than it was on his Inauguration Day. That would be the first time that has happened since 1932, when the country was mired in the Depression ..." (NYTimes, 8-7-04)
"The economy is spinning its wheels again," said Richard Yamarone, chief economist at Argus Research in New York. "Corporate America is reluctant to hire anyone above the bare minimum."
Full story about jobs picture at
http://www.nytimes.com/2004/08/07/business/07econ.html
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