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Economy
News
- 03-03-04 Economy Improving But Jobs Slow (CBS News)
"Factories hummed and consumers kept cash registers busy in the first two months of this year, fresh evidence that the economic recovery is moving ahead, according to a Federal Reserve report Wednesday."
"Even with the pickup in factory activity, manufacturers have lost 3 million jobs since July 2000. That's the month factory employment peaked as the economy was enjoying a record-long expansion." 3-04
- 03-03-04 Record U.S. Trade Deficit (CBS News)
"The United States registered a record $489.4 billion trade deficit for 2003 as a rebounding U.S. economy strengthened Americans' appetites for a wide range of foreign-made goods, including cars, clothing and TVs."
"Critics point to the deficits as evidence that the president's free-trade policies aren't working and are a factor in the loss of U.S. jobs."
"The latest snapshot of trade activity comes amid rising tensions over global trade and concerns about the flight, or outsourcing, of U.S. jobs to other countries. President Bush's chief economist, Gregory Mankiw, struck a political nerve earlier this week when he described the loss of U.S. jobs to overseas companies as 'just a new way of doing international trade.' "
"Painfully slow job growth in the United States is a political sore spot for the president and an issue that Democrats, seeking to capture the White House, like to point out to voters in an election year." 3-04
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