Sunday, February 04, 2007

Job creation weak; unemployment rises

This was predictable.

The crash has begun. Why won't anyone recognize it publicly?

Job creation weak; unemployment rises Chicago Tribune:

As U.S. employers, cautious about the economy's direction, added fewer workers than expected in January, the nation's jobless rate inched upward, the Labor Department reported Friday.

Although most experts had been expecting the report would show about 150,000 net new jobs were created, payrolls grew by a tepid 111,000 last month.

The unemployment rate, which is derived from a different survey, had been expected to remain at December's 4.5 percent level, but instead moved up to a still historically low 4.6 percent.

In addition, the rate of growth in workers' pay slowed.

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