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White-collar employment growth through the first six months of 2005 can be described as disappointing and volatile at best. While January and March job gains were unimpressive, both under 124,000, February posted a high of 300,000 job gains. While April exceeded expectations, posting employment increases of 274,000, disappointment set it again in May but increased again in June to 166,000. Despite this volatility, the unemployment rate stands currently at 5%, the lowest rate recorded since September 2001.

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