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TIME: Almanac 1990
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1990 Time Magazine Compact Almanac, The (1991)(Time).iso
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041789
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04178900.020
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1990-09-17
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BUSINESS, Page 47Business NotesTHE ECONOMYSubtle Sign Of a Slowdown
When the Government released its closely watched unemployment
report for March last week, the figures seemed to give fresh
evidence of economic strength. They showed an unexpected drop in
the U.S. jobless rate to 5%, down from 5.1% in February and the
lowest monthly rate in more than 15 years.
A closer look at the data, however, revealed an underlying
weakness. The economy created only 180,000 new jobs in March, down
sharply from the 280,000 that were added the previous month. The
unemployment rate fell because relatively few new job seekers
entered the labor force in March. Among other signs pointing to a
softening economy, the report said the construction industry lost
50,000 jobs in March, or about 1% of its work force, as home
building slumped because of rising mortgage rates.