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Biggest Drop In Unemployment Claims Since December 2001.  "Far fewer Americans than expected applied for first-time unemployment benefits last week as the effects of Hurricane Charley faded, the Labor Department reported Thursday. ...  Initial claims for unemployment benefits dropped 44,000, to 319,000, in the week ended Saturday from a revised 363,000 the week before. It was the steepest weekly decline since a plunge of 77,000 in December 2001, three months after the terrorist attacks."  ("Jobless Claims Drop," Reuters, 9/10/04)More Evidence Inflation Is Under Control. "U.S. producer prices unexpectedly declined last month, reflecting cheaper cars, computers and gasoline, a government...

Greenspan Delivers Positive Economic Assessment.  "Federal Reserve Chairman Alan Greenspan said Wednesday the economy has 'regained some traction' after a late spring slowdown that was triggered by a sharp spike in oil prices. Greenspan's moderately upbeat forecast was likely to cement expectations that the central bank will raise interest rates for a third time when Fed policy-makers meet in two weeks. In testimony prepared for the House Budget Committee, Greenspan said that two key indicators, consumer spending and housing construction, bounced back in July after a weak performance in June."  (Martin Crutsinger, "Greenspan Says Economy Has Regained Some Traction," The...

FactCheck.Org: Kerry's Claim That New Jobs Pay $9,000 Less Is Based On "Disputed Analysis From A Liberal Think Tank," Wages Are Actually Increasing. "In his acceptance speech at the Democratic National Convention July 29 Kerry repeated a claim that the economy is creating jobs that pay $9,000 a year less than those they replace. He bases that on disputed analysis from a liberal think tank. … Kerry also said 'wages are falling' when in fact they are increasing.  It's true wages haven't kept up with inflation for the past several months. But even after adjusting for inflation they're still...

Valley job market has rebounded. "The Valley's job market rebounded mightily during the past year from the post-Sept. 11, 2001, recession, driven by stepped-up construction activity trying to keep pace with a surging population, a new federal report shows. The Phoenix-Mesa market led all metropolitan areas except Washington, D.C., in year-over-year increases in employment during the 12 months that ended June 30, according to the latest figures from the U.S. Bureau of Labor Statistics." (Edward Gately, "Valley job market flourished over the past year," East Valley Tribune, 7/30/04)Arizona jobs gains at top of list. "The Phoenix area shed some seasonal...

Manufacturing Activity Expands For 14th Consecutive Month.  "U.S. manufacturing expanded for the 14th consecutive month in July, boosted by new orders and higher production, the Institute for Supply Management said Monday. The institute said its manufacturing index registered 62.0 last month, up from 61.1 in June." (Eileen Alt Powell, "Manufacturing Activity Increases In July," The Associated Press, 8/2/04)Manufacturing Sector Continues Rapid Growth.  "'The manufacturing sector continues to grow at a rapid rate,' Norbert J. Ore, chairman of the institute's survey committee, said in a statement accompanying the report. 'The growth of new orders and production accelerated during the month, adding...

Number Of People On Jobless Rolls Falls To Three Year Low.  "The number of Americans signing up for unemployment benefits last week fell more steeply than expected, while the total number of people on the jobless rolls fell to the lowest level in more than three years, a government report showed on Thursday.  First-time claims for state unemployment insurance benefits dropped 11,000 in the week ended July 17 to 339,000, down from a revised 350,000 in the prior week and well below the 394,000 for the same period a year ago, the Labor Department said."  ("U.S. Jobless Claims Fall 11,000...

Economy On Track For Fastest Growth In 20 Years.  "The economy appears headed for a banner year despite a springtime spike in energy prices and a recent increase in interest rates. In fact, many analysts are forecasting that the overall economy, as measured by the gross domestic product, will grow by 4.6 percent or better this year, the fastest in two decades. There were strong 4.5 percent growth rates in 1997 and 1999, when Bill Clinton was president and the country was in the midst of a record 10-year expansion. But if this year's growth ends up a bit faster...

Maine Adds 2,100 Jobs in May.  "From April to May, seasonally adjusted nonfarm wage and salary jobs rose by 2,100. The largest increases came in leisure and hospitality services and construction. Government jobs declined slightly.  Over the past year, the seasonally adjusted unemployment rate also dropped, from 5 percent in May 2003 to 4.1 percent last month. Seasonally adjusted nonfarm wage and salary jobs rose by 5,200." (Business Briefcase, "Maine’s Jobless Rate Drops Slightly in May," Portland Press Herald, 6/19/04)Central Maine Economy Growing.  "Rising numbers in retail sales point to a budding economic recovery in central Maine.  Unemployment figures are...

Consumer Spending Increases At Highest Rate Since 2001.  "Consumer spending rose by the largest amount in 2-1/2 years last month but inflation accounted for half the increase, the government said Monday, cementing expectations that the Federal Reserve will raise interest rates this week. Personal spending was up 1.0% in May, the Commerce Department said, beating forecasts for a 0.8% gain and the biggest advance since October 2001's 2.4% rise." ("Consumer Spending Surges In May, Prices Up," Reuters, 6/28/04)Personal Income, Wages And Salaries Rise.  "Disposable income, or the money left over after taxes, increased 0.6 percent for a second month. Wages...

New Home Sales Set Record High In May. "Sales of new homes in the United States rose 14.8 percent in May to a record seasonally adjusted annualized rate of 1.37 million, the Commerce Department estimated Thursday. The increase was much larger than expected. Economists surveyed by CBS MarketWatch were expecting a sales rate of about 1.12 million in May. Estimated sales in April were revised higher to an annual rate of 1.19 million from 1.09 million. The number of new homes for sale on the market fell about 0.5 percent to 372,000, representing 3.3-months of sales at the May pace....

Consumer Confidence Jumps.  "Consumer confidence surged last week, reversing a month-long decline sparked by rising gasoline prices. The ABC News/Money magazine Consumer Comfort Index jumped five points to -15 on its scale of +100 to -100. In 18 years of polling, the index has only risen that sharply 15 times with the last being just after the fall of Baghdad.   This week's five-point gain also erased any lingering traces of a nine-point drop in the index, from -11 in mid-May to -20 last week."  ("Consumer Confidence Jumps," CNN/Money, http://money.cnn.com/2004/06/22/news/economy/abc_money/, 6/22/04)Retirement Assets in Mutual Funds Hit All-Time High.  "The share of...

Employment Increases Last Month: Arizona-8,400 JobsArkansas-2,800 JobsCalifornia-23,600 JobsColorado-1,600 JobsConnecticut-4,100 JobsDelaware-2,400 JobsFlorida-6,800 JobsIdaho-2,400 JobsIllinois-300 JobsIndiana-1,600 JobsKansas-4,100 JobsKentucky-900 JobsMaine-2,100 JobsMaryland-8,100 JobsMassachusetts-9,700 JobsMichigan-8,300 JobsMinnesota-7,200 JobsMississippi-200 JobsMissouri-100 JobsMontana-1,200 JobsNevada-3,800 JobsNew Hampshire-4,600 JobsNew Jersey-9,500 JobsNew Mexico-2,800 JobsNew York-25,400 JobsNorth Carolina-13,400 JobsOhio-1,100 JobsOklahoma-5,700 JobsOregon-6,000 JobsPennsylvania-10,700 JobsRhode Island-1,500 JobsSouth Dakota-1,000 JobsTexas-12,900 JobsVirginia-8,300 JobsWashington-2,800 JobsWisconsin-12,100 Jobs ("Regional And State Employment And Unemployment Summary," Bureau of Labor Statistics, http://www.bls.gov/news.release/laus.nr0.htm, 6/18/04) Employment Increased In 44 States This Year. "Over the year, employment increased in 44 states and the District of Columbia, decreased in 5 states, and remained unchanged in 1 state. The largest over-the-year gains in employment occurred in Florida...