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Friday, May 06, 2005

Good economic news.

The Globe and Mail: U.S. job creation soars:

The U.S. economy added 274,000 jobs in April, far more than economists had expected, the Labour Department said Friday. The jobless rate held steady at 5.2 per cent. Payroll gains were widespread, with retailers, health care providers, construction companies and financial services all showing employment rising, the department said. Manufacturing, however, lost jobs for the second straight month. Workers' average hourly earnings rose in April to $16, up 0.3 per cent from March's $15.95. That was the highest on record and slightly higher than the 0.2-per-cent increase that economists were forecasting.
The current economic worry of course is inflation, largely a result of increased energy costs.


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