A report issued yesterday by the National Association of Manufacturers predicted that production would expand by 6 percent next year, but that factories would only add 250,000 jobs - less than ten percent of the 2.8 million jobs lost over the last three years. This prediction supports many economists who believe that even though the economy is expected to grow at a 4% rate, the unemployment rate will only decrease slightly. It is estimated that 250,000 jobs needed to be added a month to have a significant impact on the employment rate.
See "Manufacturers Are Optimistic, Though Not on Job Creation", Edmund L. Andrews, The New York Times, January 15, 2004