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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Elroy Jetson who wrote (8607)7/2/2004 8:38:30 AM
From: mishedlo  Read Replies (1) of 116555
 
U.S. job growth slows to 112,000 in June By Rex Nutting
WASHINGTON (CBS.MW) - Job growth in the United States slowed in June after three months of robust hiring, the Labor Department estimated Friday. Nonfarm payrolls rose by 112,000 in June, less than half the 244,000 expected by Wall Street economists surveyed by CBS MarketWatch. Employment fell by 11,000 in the manufacturing sector after four months of growth. The unemployment rate remained at 5.6 percent as expected. Average hourly wages rose by 2 cents to $15.65, a 0.1 percent increase, less than the 0.3 percent expected. Payroll growth in April and May was revised lower by a cumulative 37,000. The average workweek fell by two tenths of an hour to 33.6 hours. Total hours worked in the economy dropped 0.6 percent.
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