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Friday, May 2, 2008

More good economic news.

by George Dienhart

The nation’s unemployment rate dropped last month. Wall Street was looking at an increase to 5.2%. In reality, the rate dropped to 5%. Construction jobs fell by 61k and the manufacturing sector fell by 46k. The good news is service sector jobs rose by over 90k and professional companies added 39k new jobs. The financial sector lost gained jobs for the first time in 9 months.

All this and economic growth last quarter- sounds like we might be coming out of the slowdown already. It certainly looks as though we may not be heading into a recession. We’ll see how the left spins this..