The No-Bang, All-Whimper Recovery
Article Abstract:
The employment figures for Dec. 2003 were 149,000 jobs short of a prediction of 150,000. The creation of only 1,000 new jobs shows what is wrong with the US economic recovery. Economists believe that a decline in incomes will eventually inpact the consumer sector which rebounded temporarily due to tax cuts. The private-sector has 7.5 million less employees than a normal economic recovery would produce over a two-year period. New employment does not look promising because of the increasing dependence on international outsourcing and increased demand for productivity from domestic workers.
Publication Name: The New York Times
Subject: News, opinion and commentary
ISSN: 0362-4331
Year: 2004
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Shares Drop on Weak Employment Report
Article Abstract:
The most recent employment report, with only 32,000 jobs created in July, caused a decline in the price of stocks, bonds and the dollar.
Publication Name: The New York Times
Subject: News, opinion and commentary
ISSN: 0362-4331
Year: 2004
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