From The Associated Press, 12/5/04:
http://www.cbsnews.com/stories/2004/12/03/national/main658950.shtml
Feds Revise Job Growth Downward
(AP)
For a while, it looked as if the conclusion to the 2004 election would
prove to be a rejuvenating tonic for the nation's economy.
Then, as has happened so often over the past three years, news on the
jobs front fell short of expectations.
The latest disappointment came Friday with a government report that
payrolls grew by just 112,000 workers in November, far below the
200,000-job gain many economists had expected.
As if that wasn't enough, the government revised significantly
downward the job gains for the previous two months.
It was another bump in what has been a torturous road for America's
labor market, which some hoped would improve when the presidential
election was promptly settled.
Even though the economy has been out of the recession since November
2001, the country still has not recouped all the jobs lost since March
2001, the month the downturn began.
In terms of job production, this expansion so far is the worst of all
time, with far fewer job created than during the first three years
after the 1990-91 recession.
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Ah, well, the Bush election campaign is over. Now that he's stolen it
again, the truth can be told.
Harry.
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