Despite real growth in the economy at a 7.2 percent annual rate in the summer quarter, most economists see only a gradual reduction in unemployment in the months leading up to the 2004 fall election.
"Better, but still tough," says Allen Sinai, chief economist of Decision Economics Inc., an economic consulting firm in Boston.
The creation of more new jobs should cheer up those seeking work - and perhaps even help President Bush keep his job in the White House. But there is concern the nation's job machine may have lost some of its zip - permanently - because of changing business practices.
The latest statistics are encouraging. In October, the economy added 126,000 new jobs, the Labor Department reported Friday. September's increase in private-sector payroll jobs was revised up to 125,000.
Well, dang, Ithink tht's roughly what's being said. Your claim was a job loss.
Doesn't this sound a lot like "downsizing" in the '80s? Or are you too young to remember that? You think the '90s boomtimes bubble is normal economics, right?
That downsizing ("rightsizing", pick your euphemism) led to the productivity increases that fueled that '90s boom. |
