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Article: Labor Department reports declining job growth for fourth straight month.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- August 7, 2004
CopyrightCOPYRIGHT 2004 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Andrea Ahles, Fort Worth Star-Telegram, Texas Knight Ridder/Tribune Business News
Aug. 7--A slow summer for the nation's economy continued Friday as the Labor Department reported a disappointing gain of 32,000 new jobs in July.
It was the fourth consecutive month of declining growth and well below the 200,000 new jobs economists had projected. The Labor Department also revised the May and June job-growth figures -- downward.
The dismal results sent stocks plummeting and drew competing interpretations from President Bush and his Democratic challenger, John Kerry.
Higher oil prices and weak consumer spending have made companies ...