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Job cuts raise fears and Fed pressure on rates
Washington reports show August payrolls declined 4 000 marking the first drop since 2003 while unemployment held at 4.6 percent as workers exit the labor force. Economists warn of recession risks and pressure on the Fed to cut rates, with analysts predicting a 0.25 point reduction at the September meeting.
MENTIONED IN THIS ARTICLE
Washington, D.C
Federal Reserve
Labor Department
Nigel Gault
Global Insight
Fed
Barney Frank, Dirman
House Financial Services Committee