Unemployment decreased in August
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Manufacturing News, Source : TheManufacturer.com
Published : 11 Sep 2002 21:44
Unemployment in the manufacturing sector decreased slightly to 5.7% during August, according to the Labor Department’s latest report.
Since April, only 162,000 new jobs have been created, while an average 130,000 jobs were lost during the last year.
“While the economic fundamentals are solid enough to avert a double-dip recession, we face a jobless recovery until we get the growth rate up,” said Jerry Jasinowski, president of the National Association of Manufacturers. “Though the unemployment rate falling to a five-month low of 5.7% is good news, the lackluster growth in payroll employment is evidence of an economy firing on less than all cylinders.”
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