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To: TobagoJack who wrote (46196)	2/13/2004 1:27:49 PM
From: Joe S Pack	Respond to of 74559

It looks like there is a finger pointing brewing between Grees$rook's productivity OZ land Snow's job growth CoolAid. biz.yahoo.com U.S. Treasury's Snow-Productivity slows hiring Friday February 13, 11:08 am ET WASHINGTON, Feb 13 (Reuters) - U.S. Treasury Secretary John Snow said on Friday that high rates of productivity in America are dampening hiring. "Labor markets are pretty strong, but given this high productivity...there's been a slower pickup in jobs than economists would have expected from growth rates as high as they are," Snow said in response to a question from the Senate Budget Committee. He also said it was difficult to gauge the employment situation with certainty, because the Labor Department's two surveys measuring the job market showed different results. "The household survey is showing the creation of quite a few jobs, a lot of jobs, and the establishment payrolls survey is showing a much much less fast rebound in jobs. There should be a convergence there, because they end up measuring the same thing, but right now they are showing different results," Snow said. Federal Reserve Chairman Alan Greenspan said this week the bleaker payrolls survey was a more accurate measure of employment because the household survey likely overestimated population growth.