Job figures slip furthur in August

[surfermaw]

Posted on Sat, Sep. 06, 2003

Job figures slip further in August
Nation's payroll drops by 93,000 in month, 600,000 since Jan.
JOHN M. BERRY
Washington Post

WASHINGTON - Despite signs the U.S. economy is gathering a strong head of steam, the number of payroll jobs fell by another 93,000 last month, bringing the total job loss since January to almost 600,000, the Labor Department reported Friday.

"The jobs report is just awful," said Bill Cheney, chief economist at John Hancock Financial Services in Boston. "Businesses across the board are figuring out ways to do more with fewer people."

Cheney also voiced a concern shared by some analysts that if employment doesn't begin to increase substantially, the strong economic growth now expected for the rest of this year might begin to wane in 2004.

"If even 5 percent or 6 percent ... growth isn't enough to get any net hiring, the risks rise that the stimulus from the tax cuts and defense spending could produce a one-time boost that will fizzle out next year," Cheney said.

more

http://www.charlotte.com/mld/observer/business/6705261.htm

[joeybee12]

1. Fizzle Out Next year?????????

Can they plan it so that it happens in October??????

[Frances]

2. What part does outsourcing play in the U.S. job statistics?

<<"Businesses across the board are figuring out ways to do more with fewer people.">>

Bush is going to do away with overtime, so businesses will be able to have people work much longer each day and each week with no overtime or increased benefits. That will be much cheaper than hiring new people.

But outsourcing is also a problem. Just yesterday my husband got a call from his American bank. The person making the routine service call was in India.

[pfitz59]

3. I always ask callers where they're calling from........

makes for some very awkward pauses......

[JPace]

5. Bill Moyers "Now" had

a show on American jobs going
overseas. Companies are instructing
the overseas phone representatives
to be evasive and not answer where
they are. They tell people it is
company policy to not disclose that
fact.

[mbee]

4. This was all a set-up from the day that the chimp started

his tax rebates. At one point he had promised to give business back up to 15 years of taxes. I believe Enron was due to get a tax rebate for years they didn't even pay any taxes. As soon as big business knew they were getting all this money they started laying off people. They had to cut the income so they didn't have to pay huge taxes for 2001 since they were getting a truck load of money for doing nothing. That is what is going on here in my opinion.

[imax2268]

6. You know...

I saw that show with Bill Moyers...

I had some trouble with my PC...so I called tech support...the guy I talked to on the phone could barely speak english...I asked for a manager or someone who spoke better english and a woman got on with an even more difficult accent to understand...so...you don't have to tell me where the jobs are going...!

They don't have to tell me where they are...I can figure that one out for myself...

[surfermaw]

7. 21 months after claims of recession over, where the jobs

For twennty one months there has been claims of the recession being over...but where are the jobs..In foreign countries ,paid to move there with out tax dollars...Edwards says tax the companies that move out of the country and give breaks to the companies that stay home na employ Americans... I think he has something that might work.

[newyawker99]

8. Hi surfermaw!!

Welcome to DU!! :toast: