Friday, August 05, 2005

Another Friday of good economic news!

This is from Reuters today:

" U.S. job growth picked up last month as employers added 207,000 workers to their payrolls, a healthy gain that outstripped Wall Street expectations, a government report showed on Friday.

The unemployment rate held steady at the 3-3/4-year low of 5 percent reached in June, the Labor Department said.


The payrolls gain, spurred on by service-sector hiring, was stronger than expected by economists who had looked for an increase of 183,000 with the jobless rate steady.

"This is a crystal clear indication that the labor markets are very healthy and it reinforces the notion that the economy is growing in a healthy, sustainable way," said Dana Johnson, chief economist at Comerica in Detroit. "

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