Transportation Industry
U.S. Loses Jobs for First Time Since 2003
Transport Topics, February, 2008 by Anonymous
The United States lost jobs for the first time in more than four years, the Labor Department said Feb. 1. Payrolls fell by 17,000 in January after an 82,000 gain in December that was larger than initially reported.
The drop in payrolls in January was the first since August 2003. The unemployment rate, which is based on a separate survey, fell to 4.9% in January, from 5% in December.
In other economic news:
* Construction spending fell 1.1% December, the biggest downturn in more than a year.
* Factory orders rose for a fourth consecutive month in December, a 2.3% increase from November.
* The Institute for Supply Management's manufacturing index rose to 50.7 in January from 48.4 in December. Readings above 50 show expansion.
* The economy's...
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