06 Feb 2004 Jobs
Posted at 16:09h in The Friday BriefThe headline Unemployment Rate, announced this morning, fell by a tenth of a percent to 5.6%, the lowest since January 2002. But today’s focus is on the number of jobs created. The change in non-farm (service) payrolls was up by 112,000 jobs, the biggest jump in three years, but less than expected. Everyone from economists, to analysts, from bond traders to stock traders, and I suspect the White House expected a bigger number. Why? Virtually every measure of growth in theU.S.economy points to increased job formation.