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Job growth -- is this it?
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| Contributor | RP |
| Last Edited | RP Feb 14, 2005 07:29pm |
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| Category | Analysis |
| News Date | Monday, February 14, 2005 06:00:00 AM UTC0:0 |
| Description | Waiting for the job market to bust out? Well, get ready for a long wait.
There's little dispute that U.S. job growth has been well below normal since the last recession ended in November 2001.
But rather than strengthening anytime soon, the labor market may not pick up much, or at all, at least for the foreseeable future, a growing number of labor market experts and Wall Street economists are saying.
It's not just sluggish job growth that has some economists worried.
The labor market's "participation rate" -- the portion of working folks with a job or looking for one -- slid last month to its lowest level since 1988, according to the latest numbers from the Labor Department. And the number of "discouraged" workers -- people who quit looking because they couldn't find jobs -- jumped 20 percent from January 2004. |
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