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Politics : PRESIDENT GEORGE W. BUSH

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To: American Spirit who wrote (484209)10/30/2003 10:35:48 PM
From: Hope Praytochange  Read Replies (1) of 769670
 
Consumer spending soared, foreigners bought American-made goods at a surprising clip and companies increased their investments in equipment and technology at a pace reminiscent of the 1990's boom.
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In part, the economies of the United States and other important countries have simply grown too slowly and unevenly for employers to commit themselves to hiring new workers. But companies have also used new technologies and business strategies to become more efficient, able to make more goods with fewer hands.

The expansion "will translate into jobs very soon," said Bill Cheney, chief economist of John Hancock Financial Services. "But until we actually see real and sustained jobs growth, the fear will linger."

nytimes.com
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