January 2004
U.S. Industry Quarterly Review: Labor;2004 1st Quarter, p195
Industry Profile
Industry Overview
This article focuses on the U.S. labor market. The key word for labor markets is patience. February's disappointing 21,000 gain in the payroll survey has left many pondering where the last piece of the recovery puzzle. Global Insight Inc. believes employers' hiring patterns have improved and will soon be confident enough to support more solid job growth of 150,000-200,000 per month beginning in the second quarter. The shortfall in job creation is unprecedented at this stage of a cycle. As of February 2004, overall payroll employment was still 2.35 million below its March 2001 peak.


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