Tuesday, February 15, 2005

I remain perplexed about this because it's not the first report yet the situation has not changed appreciably over the few months.
Job Market Seen Not To Be Keeping Pace With Economic Growth.
The Los Angeles Times (2/15, Riccardi) reports in a front page story that while the US economy “grew at a brisk 4.4% clip last year,” it was “not until last month that the number of jobs recovered to the levels of early 2001. The Labor Department pegs the unemployment rate at 5.2%, the lowest in four years, but the share of people who have stopped hunting for work is the largest it has been since 1988. Today's job growth is more than twice as slow as it was after the 1990-91 recession, and slower than during any recovery since World War II, analysts say.” The Times adds, “The discrepancy is fueling a growing debate about whether such low employment growth is a harbinger of a world in which businesses can rake in increasing profits without much of it trickling down to workers.”


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