Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: Jim Willie CB who wrote (11502)	1/10/2003 1:08:23 PM
From: stockman_scott	Read Replies (1) \| Respond to of 89467

<<..."The superpower is living on borrowed money and borrowed time. Its rake's progress cannot continue for ever. But how and when it will end remains disturbingly obscure."...>> Jw: You need to give The President and Congress a lecture about making tough decisions and BEING HONEST with the country...Where's the accountability and stewardship of the economy to make it stronger for future generations...?

To: Jim Willie CB who wrote (11502)	1/10/2003 1:30:29 PM
From: stockman_scott	Read Replies (1) \| Respond to of 89467

Payrolls Tumble 101,000 in December By Caren Bohan WASHINGTON (Reuters) - The already troubled U.S. labor market took a turn for the worse in December as the economy lost 101,000 jobs -- in contrast to expectations companies would add workers, the government said on Friday. The jobs drop was the largest since February, when the economy lost 165,000 jobs. For 2002 as a whole, the economy shed a net 181,000 jobs. Despite the steep drop in payroll employment and a decline in worker hours in December, the unemployment rate stayed steady last month at 6 percent, according to the Labor Department's closely watched employment report. U.S. bond prices soared on the report and the dollar sank to a three-year low against the euro. "It's weaker than expected and I think the only sign of strength was manufacturing hours were up and overtime was up. Other than that it's a very soft report, and the previous month was revised down," said Asha Bangalore, economist at Northern Trust Co. in Chicago. The report is likely to complicate efforts by President Bush to bolster confidence in his handling of the economy. Bush on Tuesday unveiled an ambitious $674 billion plan to lift the U.S. economy by scrapping taxes investors pay on dividends and speeding income tax reductions. The package heads to Congress, where it is sure to be a subject of heated debate. December's drop in payrolls outside the farm sector was a much weaker performance than the 22,000 jobs gain projected by U.S. economists in a Reuters survey. In a further sign of weakness, Labor revised its latest report to show an 88,000 drop in payrolls in November, sharper than 40,000 decline it initially reported. Last month's job losses were led by the retail sector. Department stores, toy stores and other retail outlets curbed hiring amid disappointing sales during the all-important holiday season, causing a seasonally adjusted 104,000 drop in retail payrolls. The ailing manufacturing sector also contributed to the deterioration, with jobs in that sector falling 65,000. Gains in government jobs and in some service-sector industries helped to offset those declines. The average workweek shrank to 34.1 hours in December from 34.2 hours in November. Average hourly earnings rose 0.3 percent in December after a 0.2 percent rise in November. 10-Jan-2003 13:49:12 GMT Source RTRS - Reuters News