Because you already know...
Economists believe the drop in the labor force masks a much higher jobless rate -- perhaps as high as 9 percent, according to Anthony Chan, chief economist at Banc One Investment Advisors in Columbus, Ohio.
"The decline in the unemployment rate is the most misleading aspect of this employment report," said Chan. "It's a sham because of how we got there -- the labor force dropped precisely because more people became discouraged."
Usually, out-of-work Americans rejoin the job hunt as the economy strengthens, believing growth will spur hiring. But despite more than two years of expansion since the end of the 2001 recession, America remains locked in a jobless recovery and the labor force is falling, not rising. article
But don't be discouraged, there are some temporary jobs coming on.
A U.S. Labor Department report on Friday showed that the number of workers on U.S. payrolls outside the farm sector rose by just 1,000 in December, less than 1 percent of economists' estimates for a 130,000 increase.
However, 30,000 temporary jobs were added, in the eighth consecutive monthly gain, bringing the total temporary jobs for 2003 to 166,000. article
Health benefits you want? Job stability? Hoo, well. Can't help you there. Unless you're young enough to join the army, maybe.
...but hey, do what you want....you will anyway....
Sunday, January 11, 2004
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