Unemployment rate down, manufacturing job losses decline
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Manufacturing News, Source : TheManufacturer.com
Published : 05 Dec 2003 17:20
The unemployment rate, at 5.9 percent, was slightly down from October’s rate of six percent, the Bureau of Labor Statistics of the US Department of Labor reported today.
In recent months, job losses have lessened in manufacturing, according to the report. Factory job losses have averaged 17,000 since August, compared with an average decline of 53,000 for the 12 months ending in August. Employment in durable goods manufacturing was unchanged in November, while small job losses continued in nondurable goods.
“The pace of job losses in manufacturing has eased in
recent months,” Bureau of Labor Statistics Commissioner Kathleen P. Utgoff said in a statement. “The manufacturing work week increased by 0.2 hour over the month and has risen by 0.7 hour since July. Factory overtime also has risen in recent months.”
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