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Economic outlook roiled by weak jobs report
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| Contributor | Servo |
| Last Edited | Servo Jan 13, 2004 04:28pm |
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| Category | Analysis |
| Media | Website - Yahoo News: Iran |
| News Date | Tuesday, January 13, 2004 06:00:00 AM UTC0:0 |
| Description | Economists are reassessing their outlook for the United States after last week's shock employment report that suggested the US labor market is far weaker than earlier believed.
The report showed a paltry 1,000 jobs created in December, far below the 150,000 projected by forecasters. To compound the impact, the government also revised downward the number of jobs created in prior months.
Although the official jobless rate fell to 5.7 percent from 5.9 percent, that was largely the result of discouraged workers leaving the labor force, analysts said.
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