NewsMine — economy — united-states — 2003 — 2003-sept-oct — Viewing Item

Government claims unemployment stabilizing { October 3 2003 } Original Source Link: (May no longer be active)    http://www.latimes.com/business/la-100303jobs_wr,1,1117369.story?coll=la-home-headlines http://www.latimes.com/business/la-100303jobs_wr,1,1117369.story?coll=la-home-headlines Companies Add Jobs, Unemployment Steady From Associated Press 6:44 AM PDT, October 3, 2003 WASHINGTON -- The nation's unemployment rate held steady at 6.1 percent in September as businesses added to payrolls for the first time in eight months, suggesting that the weak job market could be stabilizing. A survey of U.S. companies showed a net increase of 57,000 jobs last month, the Labor Department reported today, and there was new hope for recovery in the slumping manufacturing sector. Some 29,000 factor jobs were lost in that area, but that was considerably fewer than in previous months. Economists had expected the overall civilian unemployment rate to rise to 6.2 percent and had anticipated a loss of 25,000 more jobs. People seeking work are not out of the woods yet, the latest report indicates. The number of jobless people looking for work for 27 weeks or more rose to 2.1 million last month. Also, people working part time because they can't find full-time work increased to nearly 5 million, said the Bureau of Labor Statistics. The economy had shown signs of growth in recent months, but those improvements failed to trickle down to the jobs market. Companies have been fearful of taking on the increased cost of new workers, relying on their existing employees to do more. Economists think companies will wait to see steady profits before going on a hiring spree. Amid signs of an economic rebound, the Federal Reserve last month decided to hold a key short-term interest rate at a 45-year low of 1 percent. Analysts think policy-makers will leave that rate unchanged again when they next meet, on Oct. 28. The weak hiring outlook could mean trouble for President Bush's re-election next year. The 10 Democrats vying to challenge him have latched onto the economy as a campaign issue, criticizing the administration for tax cuts they say have benefited the wealthy and failed to improve the lives of ordinary Americans. In today's reports, manufacturing lost jobs for the 37th straight month, a record, although the pace of the hemorrhaging slowed somewhat. Construction employment was up for the month, with 14,000 new jobs. That sector has added jobs for seven straight months. In the non-manufacturing sector, professional and business services added 66,000 new jobs last month, with half of the gain occurring in temporary employment services. That gain is significant because analysts closely watch the sector for signs of a turnaround. Growing companies often will hire temporary workers before taking on commitments to full-time employees. Gains also were found in health care and social assistance; transportation and warehousing; and financial services.

2 years in a row more in poverty Asian debt withdrawal threat to us deficit { September 7 2003 } Asian unpegging crucify us { October 3 2003 } Bush bid weaken dollar against asia { September 24 2003 } Bush cuts schools highways { September 10 2003 } Bush priorities under scrutiny Bush takes credit economic upturn { September 1 2003 } China brings us export resictions into trade debate Deficit not manageable { September 18 2003 } Deflation still worries federal reserve { September 17 2003 } Deflation will continue for years { September 10 2003 } Disappointed earnings bonds rally Dollar gains on euro { September 2 2003 } Dollar over valued { September 18 2003 } Dollar plunges 3 year low Dollar tumbles low against euro { October 8 2003 } Economy expands fastest since 1984 no jobs { October 31 2003 } Fed holds rates warns on deflation Firms dont buy rebound Firms still slashing jobs Foreign investors fear weak dollar { September 22 2003 } Gold hits 7 year high { September 25 2003 } Gold records as tumbling dollar { September 10 2003 } Government claims unemployment stabilizing { October 3 2003 } Grocery workers 3rd day strike san diego { October 14 2003 } Job loss like great depression Jobless claims lowest eight months { October 9 2003 } La transit strike may strand 500 thousand { October 14 2003 } Mass august layoffs { September 26 2003 } Monthly costs iraq approach vietnam Poor gained 1 3m in 2002 { September 3 2003 } States risk big losses bond funding pensions { October 12 2003 } Stocks at 14 month high { September 2 2003 } Stocks fall economy worries { September 30 2003 } Stocks lower after production data Stocks rebound hopes intact { October 1 2003 } Stocks rise on upbeat analyst reports { September 8 2003 } Stocks slip bonds rise Trade gap bring down dollar warns imf { September 19 2003 } Trade gap could bring down dollar { September 19 2003 } Uninsured increases 2 4 million last year { September 30 2003 } Us bonds face gloomier future as selling continues { September 7 2003 } Us closes last levis manufacturer { September 26 2003 } Us losing millions manufacturing jobs { September 4 2003 } Weak dollar raises stocks Files Listed: 45

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