BUSINESS NOTES : UNEMPLOYMENT RATE NEAR 24-YEAR LOW.WASHINGTON - Robust job growth in January held the nation's unemployment rate near a 24-year low as America's vibrant labor market labor market A place where labor is exchanged for wages; an LM is defined by geography, education and technical expertise, occupation, licensure or certification requirements, and job experience showed no sign of spillover spill·o·ver n. 1. The act or an instance of spilling over. 2. An amount or quantity spilled over. 3. A side effect arising from or as if from an unpredicted source: from Asia's financial disarray. January's seasonally adjusted Seasonally adjusted Mathematically adjusted by moderating a macroeconomic indicator (e.g., oil prices/imports) so that relative comparisons can be drawn from month to month all year. unemployment rate, 4.7 percent, was the same as December's and just a notch above the 4.6 percent rate in November, lowest since 1973, the Labor Department The Department of Labor (DOL) administers federal labor laws for the Executive Branch of the federal government. Its mission is "to foster, promote, and develop the welfare of the wage earners of the United States, to improve their working said Friday. Employers created a greater-than-expected 358,000 jobs. Construction accounted for 92,000, the largest gain in nearly two years. - Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. Japanese describe sluggish economy Sluggish Economy A state in the economy in which the growth is slow, flat or declining. The term can refer to the economy as a whole or a component of the economy, such as weak housing starts. TOKYO - In its gloomiest assessment of Japan's business climate in more than two decades, the government said the economy is stagnating and it is unclear when growth will resume. Pessimism in households and corporations has soured consumption and investment, and it is uncertain whether the country is headed toward recovery or recession, a monthly report by the Economic Planning economic planning, control and direction of economic activity by a central public authority. In its modern usage, economic planning tends to be pitted against the laissez-faire philosophy which developed in the 18th cent. Agency said Friday. The report was harsher than December's study, which said the economy was ``stalling.'' It was the first time the agency had called the economy ``stagnant'' since January 1975. - Associated Press Trump's casinos may be on block NEWARK, N.J. - Donald J. Trump, the real estate developer who has a sizable stake in three Atlantic City Atlantic City, city (1990 pop. 37,986), Atlantic co., SE N.J., an Atlantic resort and convention center; settled c.1790, inc. 1854. Situated on Absecon Island, a barrier island 10 mi (16. casinos, says he might cash in his chips on the gambling houses - for the right price. Trump confirmed Friday that two investment banks have been hired to seek bids for Trump Hotels & Casino Resorts Inc., the public company that controls his casino holdings. Trump owns nearly 40 percent of the company's stock, which rose 19 percent on the news. Analysts say Trump faces the prospect of fierce competition from industry giants who are planning mega-resorts in Atlantic City if he keeps his properties there. - Associated Press Magic joins forces with T.G.I. Friday's Basketball legend Magic Johnson is inviting inner-city residents to dinner and a movie, plus a cup of coffee. Johnson is teaming with T.G.I. Friday's to open five inner-city locations in the next two years as part of his campaign to revitalize poor neighborhoods by adding businesses, a spokeswoman for the restaurant chain said Friday. She said they will be near movie theaters built by Johnson Development Corp. in conjunction with Sony Theaters. - Associated Press |
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