Jobs and wages picture remains bleak for millions in US

By David Walsh
8 February 2005

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The employment and general economic situation remained dismal for millions of American workers in January, amid signs that the so-called recovery may be slowing. While the official unemployment rate declined to 5.2 percent, payrolls increased by only 146,000, considerably less than predicted. Manufacturing jobs fell by 25,000. The Bureau of Labor Statistics (BLS) report, released February 4, also revised downward the number of jobs created in December, from 157,000 to 133,000.

Ironically, the decline in the official percentage of jobless resulted largely from the gloomier overall employment outlook, i.e., a larger number of people discouraged from even embarking on a search for work leads to a falling unemployment rate and official claims that the “economy is on track.”

Link to report...