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| Unemployment Drops to 4.4% |
| Friday, April 06, 2007 |
All we keep hearing from the Dems and the main stream news media is how terrioble the economy is, yet all the data we keep reading and hearing is to the contrary, as evidenced by this from The Street.com:
A higher-than-expected 180,000 nonfarm jobs were added in March while payrolls for the prior two months were revised higher, the Labor Department reported Friday. The unemployment rate unexpectedly fell to a five-year low of 4.4% in March from 4.5% in February.
The consensus expectation was for nonfarm payroll growth of 135,000 (down from 150,000 a week ago) and for the unemployment rate to tick up to 4.6%. February payrolls were revised up to 113,000 from 97,000 while January payrolls were revised up to 162,000 from 146,000.
Average hourly earnings rose 0.3% last month, in line with expectations. Average hours worked rose to 33.9 from 33.8, matching expectations.
February's payroll gains and the upward revision to the prior two months "suggest forward momentum for the economy with better gains in consumer incomes and spending." |
posted by Jay Are @ 1:00:00 PM   |
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