NewsMine — economy — united-states — 2004 — 2004-jan-mar — Viewing Item

Sluggish job growth threatens recovery { February 10 2004 } Original Source Link: (May no longer be active)    http://economictimes.indiatimes.com/articleshow/486356.cms http://economictimes.indiatimes.com/articleshow/486356.cms Sluggish US job growth threatens recovery AGENCIES[ TUESDAY, FEBRUARY 10, 2004 03:58:12 AM ] WASHINGTON : Another month of disappointing job growth in America has sown a seed of worry among analysts that the fragile economic rebound may not be strong enough to last. For months now, economists have been forecasting an improvement in employment. Each month, they’ve been disappointed, and the news from January was no different. While 112,000 jobs were created and the unemployment rate dropped to 5.6% — the lowest in two years — forecasters, traders and economists had been expecting much better. Most had hoped to see payrolls jump by 150,000, with the more optimistic estimating gains of 300,000. “It’s just flat-out disappointing. We’re just not creating many jobs,” said Steven Wood, chief economist at Insight Economics in California . He worries the sluggish employment growth could eat into consumer confidence just as the economic recovery begins to gather steam — undermining the shopping strength that helped pull America out of the recession. “Unless there is more job creation and faster wage growth, it is difficult to see how real consumer spending, (which makes up) 70% of the economy, can continue to sustain strong economic growth,” Mr Wood said. Healthy 4% GDP growth in Q4 ’03 and sizzling 8.2% growth the previous quarter had spurred hopes that real hiring was just around the corner. President Bush promised summer tax cuts would ease unemployment, which looms as a key issue in the November elections. Democrats blame Mr Bush’s economic policies for the loss of 2.2m jobs since he took office.

Adds fewer jobs than expected Blue chips in the red Bush says sending jobs overseas helps us { February 10 2004 } Data dispite bush rich label for small businesses Dollar hits 11 year low against pound Dollar plunges after us jobs data { March 5 2004 } Dollar slides as consumer data disappoint Dollar slips vs high yielders ahead of trade data Euro hits new high against dollar { February 18 2004 } Fed governor says inflation was too low Fed keeps rates steady calls for patience Gop cheers job increase { April 3 2004 } Greenback slides on lack of fed worries { January 6 2004 } Heineken warns weak dollar will hit profits Inventory levels low show wary business { March 12 2004 } Investors should worry about inflation risks Job growth stalls in february { March 5 2004 } Lack of new job deals blow to us economy { March 5 2004 } Levi strauss zips up last us plants { January 9 2004 } Manufacturing jobs replaced with mcdonalds Manufacturing news disappoints economists Misleading unemployment figures muddled job crisis Mutual fund 40bn inflows 2003 { February 5 2004 } Nasdaq leads surging wallstreet Ny fed warns of risks to us economy Reactions to fed rate left unchanged Real unemploytment rate higher argue economists Senator hollings discusses dangers sending jobs overseas { March 30 2004 } Sluggish job growth threatens recovery { February 10 2004 } States expect budget shortfalls Stocks slip oil prices a worry Treasuries surge as fed ackknowledges jobs gloom Us national debt tops 7trillion { February 18 2004 } Us stocks soar after 5 day tumble Files Listed: 34

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