May 6, 2005

DON'T HAVE A MANKIW:

Job growth explodes in April, up 274,000 (Reuters, 5/06/05)

Employers created a surprising 274,000 jobs in April and added more workers in each of the two preceding months than first thought, the Labor Department said Friday in a report that may ease fears about economic growth.

The April jobs total far outstripped economists' expectations for 170,000 new jobs. Further underlining the surge, the government said 93,000 more jobs were created in February and March than it previously reported — 146,000 in March instead of 110,000 and a whopping 300,000 in February instead of 243,000.

The unemployment rate, which is calculated from a separate survey, was unchanged at 5.2% in April.

Job gains were broad-based with manufacturing the only major sector to shed jobs.

Posted by Orrin Judd at May 6, 2005 12:22 PM
Comments

The worst economy according to the Democrats in 50 years (or was it 100? 500? since the birth of Jesus?) chugs on its merry way.

Posted by: John at May 6, 2005 1:23 PM

"Job gains were broad-based with manufacturing the only major sector to shed jobs."

Everyone needs to ask one simple question--Can my job be done by a Chinese peasant? If it can, you better change careers fast, because it soon will be.

Posted by: b at May 6, 2005 2:04 PM

I wonder what they were mfg?

My husband's biz is up and he's getting quotes for stuff he'd never thought he'd handle.

That and it was interesting to read that some of the airlines have their own machine shops again.

Mfg. is short of people by about 30%.

Posted by: Sandy P. at May 7, 2005 1:33 AM
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