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Investor's Business Daily

| February 04, 2002 | COPYRIGHT 2002 Investor's Business Daily, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Jobless Rate Fell To 5.6% In Jan.

1It was down from Dec.'s 5.8%. Experts expected 5.9%. But many job seekers gave up or delayed their search, making the statistic look better. There were 89,000 jobs lost, mostly in manufacturing. That was the smallest loss since Aug., but worse than the 24,000 predicted by analysts. Retailers and airlines added jobs, but seasonal factors may have skewed the readings. More on this page

Key Manufacturing Gauge Rises

2The Institute for Supply Management's purchasing manager's index rose to 49.9 in Jan. from Dec.'s 48.1. It's the third straight rise since Oct.'s post-attack plunge, and the best reading since Aug. 2000. But it was the 18th straight read under 50, reflecting shrinkage. Production, backlogs and exports rose. The prices paid subindex rose to 43.9 from 33.2. More on this page, A2

Bush Urges Pension Law Reform

3President Bush asked Congress to make it easier for workers to diversify their company retirement accounts. This follows the Enron crash that wiped out many 401(k)s. Bush wants firms to give more 401(k) reports and be more accountable during trading blackouts. He wouldn't limit the percentage of company stock that could be in a 401(k).

Dec. Car Sales Slid, Trucks Less

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