Last week's report on joblessness from the Bureau of Labor Statistics is the best evidence yet that a Bush-backed "Jobs and Growth" stimulus effort - Congress signed off on that one, too - has not done wonders for workers.

Nor for some who once worked.

The department found that joblessness in June lifted to 6.4 percent of the U.S. workforce, a sharp increase from the 6.1 percent in May. While the administration predicts an increase of 1.4 million jobs by 2005, one would have thought that at least some of those new slots would materialize now.

After all, the increase in unemployment comes as Congress passes a riveting $350 billion economic stimulus package - an effort that so far has produced precious few new riveters.

In fact, factory unemployment accelerated, shrinking by 56,000 jobs last month, above the 53,000 average monthly job loss during the previous 12 months, laments the Economic Policy Institute, a Washington, D.C.-based nonpartisan nonprofit think tank.

What does labor market weakness imply for the local economy?

When people worry about work, they are not likely to take on new and more long-term debt by moving into a bigger house in a nicer neighborhood.

And as summer turns into fall, expect prices to slide for houses that have been on the market through the prime spring and early summer real estate selling season.

It's about money

"It's all about making money," said Reds pitching coach Don Gullett, when asked to comment on stretching the rules, a la Sammy Sosa's corked bat. "It's about, 'What can I get away with in life?' "

Gray-haired boom

The number of workers ages 55 and over are expected to increase by 47 percent over the next seven years, but two-thirds of recently polled human resources managers say their organizations are doing nothing to prepare for the trend.

"Private-sector employers are thinking short term and there is a huge tidal wave of baby boomers who are healthy, computer literate and experienced (who) want to continue working past retirement," said Larry E. Anderson, chief executive at the National Older Worker Career Center in Arlington, Va., a nonprofit nonpartisan organization that analyses workforce aging issues.

"The number of people 25 to 40 entering the workforce in the next 10 years will only increase by 5 percent."

The Older Workers Survey of 428 human resources professionals was conducted by the Society for Human Resource Management, the National Older Worker Career Center and the Committee for Economic Development.

The poll found half of the human resources professionals indicated that many of the retirees who returned to work at their companies did not make the move for monetary reasons.

About half returned to work because they wanted more social interaction.

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E-mail at jeckberg@enquirer.com