Jobless Claims Down
From My Way News (Reuters):America's employment outlook brightened on Thursday after the government said jobless claims dropped last week to their lowest since 2000, bolstering expectations for strong numbers in the April jobs report.
U.S. Treasury bond yields hit a two-year high on the unexpectedly rosy number and the dollar climbed 1 percent against the yen as markets bet heavily the Federal Reserve will hike interest rates this summer as the economy warms.
The picture of a better jobs climate was also backed by an unexpected increase in unit labor costs in the first quarter, alongside respectable productivity growth of 3.5 percent.
First-time claims for state unemployment benefits shrank 25,000 to 315,000 in the week ended May 1, the Labor Department said. It was the third straight week of declines.
Matt's Chat
I blame Bush and those evil tax cuts. As Larry would say, "IT HAPPENED ON BUSH'S WATCH!!!" (I'm going to have to get an audio clip of that...it loses a lot in the translation.)Mark's Remarks
This economy created 288,000 new jobs in April, and unemployment rate fell to 5.6%! Of course, Kerry and the Disciples of Doom in the press will say these jobs are not good jobs (who in the he** are they to judge a person's labor?). They will say workers still suffer. However, wages rose as well! Real wages for American workers rose this month. More further proof that the Left is wrong again. They were wrong about the 1980s, they were wrong about the Cold War, and they are wrong about the economy. The truth is that they WANT the economy to tank, and they love efforts to hinder the war in Iraq. It is all about power for them. Instead of trying to talk down the economy and engage in emptyheaded rhetoric, maybe they should jump on board and worry about what is best for the country and her people, not just what is best for their own power mad aims.
