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Politics : Formerly About Advanced Micro Devices

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To: Joe NYC who wrote (200183)9/4/2004 3:16:28 PM
From: tejek   of 1576160
 
Economy adds 144,000 jobs; four year job growth still negative

by Madeleine Baran

Sep 4 - On the campaign trail today, President Bush stressed that the economy "is strong and getting stronger," after the Labor Department released data showing that the economy gained 144,000 jobs in August. However, critics pointed out that, despite the recent increases, the economy has still suffered a 1.65 million net loss in private-sector jobs since President Bush took office.

The Labor Department also revised earlier job growth numbers for June and July, adding 59,000 additional jobs to earlier numbers. The unemployment rate also dropped slightly, from 5.6 to 5.4 percent.

Economists not that the unemployment numbers could be deceptive. About 152,000 people stopped looking for work in August, accounting for a significant part of the decrease in the official unemployment figure. Once workers abandon the job search, they are no longer counted.

newstandardnews.net
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