The Associate Press, Saturday 03/05/05: A report that the "Economy adds
quarter-million jobs" stating in the article that it was a "bright
signal that the labor market is on the mend" was misleading. Although
the report, appearing in The Illinois State Journal Register stated that 262,000 jobs were added, 200,000 of those jobs were low wage service jobs that paid under $8 per hour, adding to the ranks of the 40 million Americans who work but can't afford to save for retirement. The article states that "Wall Street rallied on the news, propelling the Dow Jones industrials to a 3 1/2-year high."
The article stated that "Gains were broad based: Manufacturing, construction,
retail, health care, and business services were among the sectors
seeing increases." This report contradicts ABC Nightly news on Friday
March 4, 2005 which reported that 200,000 of the new jobs were service related
and paid $7 per hour and less.