HEY, THE MOTHER AND CHILD REUNION!:

US rates set to rise as job numbers grow (Mark Tran, June 4, 2004, The Guardian)

Another 284,000 jobs were created by the US economy in May as signs that the country's "jobless recovery" was over grew, Labour Department statistics showed today.

The number of new non-agricultural jobs exceeded Wall Street expectations of 200,000, strengthening expectations that the Federal Reserve would start raising interest rates from their current 46-year low of 1%.

Further evidence that strong economic growth was finally feeding into the job market was provided when jobs growth in April and March was revised upwards by a total of 74,000.

Over the past three months, the US economy created 947,00 jobs, the best three-month gain since the summer of 2000. The unemployment rate remained at 5.6%.

When presidential economic advisor Gregory Mankiw predicted these job gains Senator Kerry referred to the Administration's: "empty promises and false hope for middle-class families." It's 2004 and the Democrats have a nominee who believes in neither capitalism nor democracy.

Posted by Orrin Judd at June 4, 2004 1:49 PM