Flexibility, Quality, and Numbers: The Job Market Is More Than onTrack heritage.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from heritage.org Daily Mail and Mail on Sunday newspapers.
From January 2003 to January 2004, the unemployment rate dropped infour out of five states, and almost every region saw an increase inthe civilian labor force.
The labor market's perceived weakness has led to calls for anotherextension of temporary unemployment insurance benefits, but thiswould increase spending by roughly $1 billion per month and isunnecessary given the demonstrated strengthening of the labormarket. Any extension of jobless claims generates exactly the wrongincentives and increases the average duration of unemployment forthose who qualify.
The American economy continued to shed jobs in April due to thehousing market crash, but according to the Bureau of LaborStatistics' payroll survey, some sectors of the economy, such asthe service sector, increased employment.