Meanwhile, ABC prepares next months economic projections....
Posted on 05/19/2005 7:08:33 AM PDT by pissant
WASHINGTON May 19, 2005 — The number of new people signing up for jobless benefits dropped sharply last week, offering an encouraging sign for the health of the labor market.
The Labor Department reported Thursday that new applications filed for unemployment insurance declined by a seasonally adjusted 20,000 to 321,000 for the week ending May 14. The decline, larger than expected, pleased economists.
The four-week moving average of claims, which smooths out week-to-week fluctuations, rose last week to 329,750, an increase of 5,500 from the previous week. Even with the rise, the level of claims still pointed to a job market that is improving, analysts said.
A government report released earlier this month showed that hiring around the country picked up briskly in April. Employers boosting payrolls by 274,000, raising hopes of better days ahead for jobseekers and the economy as a whole. The unemployment rate held steady at 5.2 percent.
While the economy has been moving solidly ahead, the labor market's improvements have been uneven sometimes.
Still, the improvements that are being made on the jobs front have been sufficient to keep the Federal Reserve on its path of gradually raising short-term interest rates. The Fed has boosted interest rates eight times each in quarter-point moves since last June to keep inflation and the economy on an even keel.
(Excerpt) Read more at abcnews.go.com ...
That and oil approaching $47 a barrel.
Bush's fault.
As we barrel ahead (pun intended) with gearing up for ANWR developement, the oil prices will fall dramatically. Mark my words.
Quagmire!
Hooverville!
Good news BUMP!
Women and children most seriously affected.
Oh, the humanity!
You mean to tell me that things are going to be OK?!?!
The sky isn't falling?!?!
We're all not doomed!
We are near the "natural" unemployment rate anyhow, IMO. Because there has to be at least 5.2% of adults in this country who couldn't hold a job if their life depended on it.
LOL
Right wing media! Democrats will not believe such drivel. The economy is tanking. Who's their "source?" Newsweek was nothing compared to these lying "economy is actually kinda good" stories!
This is the worst economy in 50 years!! /s
Meanwhile, ABC prepares next months economic projections....
They'll try to make a sows ear out of it soon enough!
LOL
I am glad everyone thinks things are rosey.The fact is that if we don't get $10 more off a barrell of oil in the next month come Christmas these same economist will be telling us the recession actual started this quarter.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.