II. Contexts - Economic
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Manufacturing Labor Costs – 2002
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Recent economic performance
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2005 economy growing at 3% annual rate
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2005 inflation rate currently 2%
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2005 unemployment rate 6.8%
Manufacturing Labor Costs - 2002
Measured how?
Second lowest in course after Italy
2005 economy growing at 3% annual rate
One of highest among developed nations
2005 inflation rate currently 2%
Lower than most countries in course or USA
2005 unemployment rate 6.8%
Down a bit from a year earlier
2003 long-term unemployment lowest in the course and well below the USA