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February 3, 2006

Jan employment

Quick take on this morning's employment numbers:

Good news: unemployment rate drops in January, payrolls up by 193,000

Not so good news: 55% of those jobs in just three industries: construction - up 46 million jobs; health care - up 29 million jobs; food and drinking establishments - up 31 million jobs.

None of those are export earning. Nor are they necessarily high-wage (health care has both high and low wage jobs).

Posted by Ken Jarboe at February 3, 2006 5:33 PM

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