Win a copy of Five Lines of Code this week in the OO, Patterns, UML and Refactoring forum!
  • Post Reply Bookmark Topic Watch Topic
  • New Topic
programming forums Java Mobile Certification Databases Caching Books Engineering Micro Controllers OS Languages Paradigms IDEs Build Tools Frameworks Application Servers Open Source This Site Careers Other all forums
this forum made possible by our volunteer staff, including ...
Marshals:
  • Campbell Ritchie
  • Bear Bibeault
  • Ron McLeod
  • Jeanne Boyarsky
  • Paul Clapham
Sheriffs:
  • Tim Cooke
  • Liutauras Vilda
  • Junilu Lacar
Saloon Keepers:
  • Tim Moores
  • Stephan van Hulst
  • Tim Holloway
  • fred rosenberger
  • salvin francis
Bartenders:
  • Piet Souris
  • Frits Walraven
  • Carey Brown

Forbes Article: WRAPUP 1-US Dec payrolls barely rise, worse than expected

 
Author
Posts: 6049
2
  • Mark post as helpful
  • send pies
  • Quote
  • Report post to moderator
http://www.forbes.com/markets/newswire/2004/01/09/rtr1204742.html
WASHINGTON, Jan 9 (Reuters) - American employers barely took on any new workers in December, a disappointing government report on Friday showed, indicating the economic recovery has yet to translate into sustained jobs growth.
The unemployment rate fell to 5.7 percent, the lowest level in over a year and down from 5.9 percent in November. But this was largely due to people leaving the workforce, according to the Labor Department's report.
 
Ranch Hand
Posts: 1376
  • Mark post as helpful
  • send pies
  • Quote
  • Report post to moderator
On the same note:
http://moneycentral.msn.com/content/CNBCTV/Articles/Dispatches/P71569.asp
Here's a message for everyone who was worried about the job market -- you were right.
The government this morning said the economy added just 1,000 jobs last month, far below the 150,000 figure economists were expecting. The unemployment rate fell to 5.7% from 5.9% in November. But CNBC's Hampton Pearson explained that it did so because the labor force declined last month.
Bill Sullivan, Morgan Stanley's senior economist, said on CNBC's "Squawk Box" that structural impediments to job growth remain, including high productivity, which allows companies to hold off on hiring, and the move toward outsourcing jobs.
Joe
 
Ranch Hand
Posts: 1551
  • Mark post as helpful
  • send pies
  • Quote
  • Report post to moderator
I believe I read in the NY Times, Paul Klugman, that the US economy adds 125K new workers a month to the job pool. So if 1K jobs were created, 124K people ineligible for unemployment ( not counted in the 5.7% statistic ) hit the street in December.
To make real progress on unemployment the economy must add 250K jobs.
[ January 09, 2004: Message edited by: Rufus BugleWeed ]
 
Saloon Keeper
Posts: 22248
151
Android Eclipse IDE Tomcat Server Redhat Java Linux
  • Mark post as helpful
  • send pies
  • Quote
  • Report post to moderator
That 1K-vs-150K disparity was a stunner. When I looked in the local newspaper yesterday, there were 3 employers advertising for "computer jobs" and none in software development and design. It's been a long time since I've seen traditional ads - even the infamously vaporous recruiter ones.
I'm beginning to think that the software industry in my town has died already and I'm just beginning to notice.
I do not envy the local 1055 professionals who had to hit the streets last week.
 
With a little knowledge, a cast iron skillet is non-stick and lasts a lifetime.
    Bookmark Topic Watch Topic
  • New Topic