Unemployment, jobs both decline

[joefree1]

Unemployment, jobs both decline
Stocks off after 'confusing' news
New York Times
Aug. 1, 2003, 9:56PM
The economy shed 44,000 jobs in July, the Labor Department reported on Friday, though the overall unemployment rate edged down.
The rate fell, to 6.2 percent from 6.4 percent in June, only because the number of people looking for jobs declined faster than the number of people holding them. People have been withdrawing from the labor market in greater numbers because of their poor prospects.
The latest data on job losses, which came a day after the Commerce Department's mildly encouraging report on economic growth last quarter, left economists wondering what to believe.
Since the most recent recession ended in November 2001, the nation's payrolls have shrunk by more than 1 million workers.
http://www.chron.com/cs/CDA/ssistory.mpl/business/2024004
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What's with all these threads that report job or economic growth. We're in trouble and China should be thanking us for all the work we've lost to them!

[Frances]

1. Even I was fooled by the news stories

You have to read the fine print to know that the reviving economy is just more media propaganda.

[JackSwift]

2. That doesn't even purport to be

anything but bad news