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U.S. Lost 17,000 Jobs in January

News Flash: 17,000 Job Losses in January

The U.S. Department of Labor reported Friday the first decline in employment in four years. Preliminary figures showed January as having the first decline in payrolls since August 2003 but those numbers might be revised. The report also showed the average hours worked in the private sector declined last month so it looks like some companies are still following the trend of cutting hours instead of jobs. President Bush noted Friday's employment figures as a reason for speeding up the passing of the proposed economic stimulus package.


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