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OPA News Release: [03/07/2003]
Contact Name: Sue
Hensley
Phone Number: (202) 693-4676
Statement of Labor Secretary Elaine L. Chao on the
February Unemployment Numbers
WASHINGTON—U.S. Secretary of Labor Elaine L. Chao issued the
following statement about February’s unemployment numbers released
today:
“The unemployment rate for February edged up slightly from 5.7 to
5.8 percent, however payroll employment fell by 308,000. This followed an
increase in payroll employment revised upward to 185,000 in January.
“While today’s news was unexpected and certainly
disappointing, a number of factors are thought to be responsible for the
unexpected decline in payroll employment.
“We know that the economy has not been growing fast enough, and
that too many people have not found work. That’s why the President has
been reiterating that now is the time for an economic growth and job package.
His proposal would encourage increased investment and new job creation. His
proposal would also give small businesses incentives to grow.
“February’s unemployment numbers are stark evidence of the
need to pass the President’s economic growth and job proposal, which will
create as many as 1.4 million new jobs and provide a significant and immediate
boost to the economy.”
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