EMPLOYMENT: Perking Along, Picking Up Jobs

Perking Along, Picking Up Jobs

The U.S. economy passed two impressive milestones last week. First, the nation completed its 58th consecutive month of growth, tying a peacetime record. Then the Government announced that for the first time in this decade the unemployment rate fell below 6%, dipping one-tenth of a percentage point from its August rate, to 5.9%, in September. Most of the employment growth over the past five years has been in services. But the manufacturing sector, recently reinvigorated by rising exports, accounted for fully 40% of the 132,000 new jobs created last month. Said Jerry Jasinowski, chief economist of the National Association of Manufacturers:...

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