From The Los Angeles Times, 8/2/03:
http://www.latimes.com/business/la-fi-jobs2aug02001424,1,2839658.story?coll=la-headlines-business
By Peter G. Gosselin, Times Staff Writer
WASHINGTON --
Jobs remained the dark side of the U.S. economy in July as American
employers sliced payrolls by 44,000, marking the sixth straight month
of losses, the Labor Department reported Friday.
The nation's unemployment rate dropped two-tenths of a percentage
point to 6.2%, but only because more than half a million people quit
looking for work and dropped out of the labor force.
The economy has shed more than 1 million jobs since the recession
ended in November 2001, making this the longest stretch of "jobless
recovery" in half a century.
The latest employment numbers were particularly disappointing because
they followed news Thursday that the economy had put on an unexpected
burst of growth this spring, raising hopes that full-fledged
prosperity is just around the corner.
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The Bush administration is uniquely designed for giving tax cuts to
the rich. It isn't really designed to protect working folks from Bush
fatcat campaign contributors.
Harry
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