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Thu, May 08, 2003 - Page 12 News List

Jobless recovery defies quick fix

POLICY CONUNDRUM With federal interest rates remaining unchanged at 1.25 percent, analysts fret about policymakers' ability to influence job growth

AFP , WASHINGTON

"The sharp increase in job cuts last month should serve as a warning that it is premature to conclude that a quick end to the war in Iraq will bring a quick turnaround in the economy and job market," said the outplacement firm's chief executive, John Challenger.

"With the strength of the economy still in doubt, it is unlikely that companies will be in a hurry to undertake expansion and job creation," he added.

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