Unemployment Drops To 4.4%/ Wages Increase
WASHINGTON - The U.S. unemployment rate dropped to its lowest in nearly 5-1/2 years during October as 92,000 more jobs were added and hiring in each of the two prior months was revised up, a government report on Friday showed.
The October new-jobs figure was below Wall Street economists' expectations for 125,000 but the Labor Department said a total 139,000 more jobs were created in August and September than it had previously thought. It revised up September's job-creation total to 148,000, or nearly three times the 51,000 it reported a month ago, and said there were 230,000 new jobs in August instead of 188,000.
The unemployment rate fell in October to 4.4 percent from 4.6 percent in September. It was the lowest unemployment rate since 4.3 percent in May 2001 and was likely to fan concerns that labor markets are growing tight and could contribute to inflation pressures.
Average hourly earnings rose 0.4 percent to $16.91 - higher than the 0.3 percent that analysts had anticipated - while the average work week edged up to 33.9 hours from 33.8. Over the year, average hourly earnings have risen by 3.9 percent, the department said.
Most of the new hiring in October was in service industries, where 152,000 new jobs were created, while goods-producing industries shed 60,000 jobs.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
And the Democrat's could do better than that? I DONT THINK SO! And this Booming Economy, will all be GONE, if the Democrat's take control.
The October new-jobs figure was below Wall Street economists' expectations for 125,000 but the Labor Department said a total 139,000 more jobs were created in August and September than it had previously thought. It revised up September's job-creation total to 148,000, or nearly three times the 51,000 it reported a month ago, and said there were 230,000 new jobs in August instead of 188,000.
The unemployment rate fell in October to 4.4 percent from 4.6 percent in September. It was the lowest unemployment rate since 4.3 percent in May 2001 and was likely to fan concerns that labor markets are growing tight and could contribute to inflation pressures.
Average hourly earnings rose 0.4 percent to $16.91 - higher than the 0.3 percent that analysts had anticipated - while the average work week edged up to 33.9 hours from 33.8. Over the year, average hourly earnings have risen by 3.9 percent, the department said.
Most of the new hiring in October was in service industries, where 152,000 new jobs were created, while goods-producing industries shed 60,000 jobs.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
And the Democrat's could do better than that? I DONT THINK SO! And this Booming Economy, will all be GONE, if the Democrat's take control.
posted by Marie's Two Cents | 7:22 AM
9 Comments:
This comment has been removed by a blog administrator.
Low unemployment used to be touted as a hallmark of a healthy economy when the slickster was (cough, cough) sorry, President. The unemployment rate is lower now than at anytime of the slickster administration but the willing accomplices in the liberal press aren't going to report this news and quite frankly who among us would believe they would.
The Bush admin has dsne a good job of recovering from the recession that was left by the slickster admininstration. Taxes are lower, incomes are higher, unemployment is way below 5 percent. This is something the liberal press pushes to the back pages of their major newspapewr outlets and TV infotainment shows where the reporting of news used to be.
The manufacturing sector is lagging because of two major reasons. Automation and regulation. Many manufacturing plants have automated their operations where people used to be employed and many manufacturers have decided to move because of excessive regulations.
It is near impossible to operate or start a manufacturing plant in this country if it doesn't already exist. This is the legacy of fifty years of democrat interference with businesses in this country. No doubt, there needs to be eviromental protections and worker saftey regulation but it is so out of hand and ridiculous it discourages all but the most determined to stay in business or by chance start one up.
Things will only get worse for manufacturing if the committees that propose and make the laws that regulate these valuble commodities to our ecomony come under the control of democrats. Manufacturing will be dealt more blows by increasing taxes, regulation and going back the system of honoraria to prevent such regulations from being introduced that is the hall mark of the democrat political machine.
Vote for the Economy and Jobs, vote for Republicans!
JG,
It's a shame to think the good, strong, economy will be lost, caput, if the Democrats take control.
Booming economy? what a joke.... You all will cling to anything positive huh? guess you have to since there are such few positive things happening for you, what with all the dead soldiers and child molestors you harbor.
Anon,
Booming economy? what a joke.... You all will cling to anything positive huh? guess you have to since there are such few positive things happening for you, what with all the dead soldiers and child molestors you harbor.
~~~~~~~~~~~~~~~~~~~~~~~
Joke? You call 95% of the American people working a joke? You call the average pay $16.00 an hour a joke? You Liberals have NO PLAN! Except to raise taxes, and screw up the economy.
Yes I will cling to positive news as long as I can because as soon as you Liberals take over IT'S ALL GONE. (That is of course IF you win)
Dont give me that Dead Soldiers theme, those Soldiers who have been protecting and fighting for YOUR right to use the internet to spew your garbage were honorable.
And YOU nor anyone else has the right to de-moralize them like your buddy John Kerry, or John Murtha.
And as far as child molestors, your party has that market cornered. Gerry Studds D-MA (Your Party) actually HAD sex with a White House Page, and you cling to Foley with a bunch of emails. You guys are unreal.
Then again what should I expect to hear from people that have Child Molestors (Gerry Studds, Barney Frank D-MA) Murederers (Teddy Kennedy D-MA) X-KKK memebers (Robert Byrd D-VA) Drug addicts (Patrick Kennedy D-RI) and hidden money like 90,000 bucks in the freezer to back you up? I guess (William Jefferson D-LA) likes "Frozen Assets" doesnt he?
Gee you are sounding unsure of yourselves all of the sudden.
I wouldnt be picking out drapes and wallpaper just yet :-)
No sweat annoyance, I told you you didn't have to belittle yourself this way. You can stand up and be a proud American and say "off with these chains that weigh me down, liberalism goodbye". The truth will set you free annoyance.
;-)
Unemployment down, wages up-Women, Minorities hardest hit
Story on page A6
Uncle P,
Unemployment down, wages up-Women, Minorities hardest hit
Story on page A6
~~~~~~~~~~~~~~~~
LOL
Post a Comment
<< Home