Stocks Tumble, Hit by Weak July Jobs Data
Fri Aug 6, 2004 10:26 AM ET
NEW YORK (Reuters) - U.S. stocks fell sharply on Friday after a U.S.
government report showed weaker-than-expected July payroll figures.

****Employers added a lackluster 32,000 workers to payrolls last month,
but Wall Street economists had looked for a payroll gain of 228,000. The
Labor Department also cut its tally of job growth for May and June by a
combined 61,000.****

"This is shockingly low," said Robert MacIntosh, chief economist at
Eaton Vance Management.


It's part of the Bush No Jobs for Americans program.


--
"There's an old saying in Tennessee - I know it's in Texas, probably in
Tennessee - that says, fool me once, shame on - shame on you. Fool me -
you can't get fooled again." -George W. Bush, Nashville, Tenn., Sept.
17, 2002