Friday, September 07, 2007

Job Growth? Ouch!

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The Economic Policy Institute reports that:
In an unexpectedly and extremely weak employment report from the Bureau of Labor Statistics, the nation's payrolls shrunk last month, the first monthly decline since August 2003. Prior months' job gains were revised down by 81,000, leading to an average monthly gain of just 44,000 over the past three months. Such a low monthly rate of job growth provides the first solid evidence that economic turmoil in financial markets has found its way into the job market.



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