Friday, June 04, 2004

Yet More Good News on the Jobs Front

It's looking increasingly as if the American economy is back in top gear: this bit of news has to put something of a damper on the hopes of those who'd like to see Bush out of office. I am more and more convinced that the state of the economy will not be an issue in the November elections, and the key point of contention will be foreign policy.

Nearly a quarter of a million new jobs were created in the US last month, in a further sign that the world's biggest economy is recovering strongly.

Official figures showed that firms outside the agricultural sector hired an extra 248,000 people in May, beating the 216,000 expected by forecasters.

The overall unemployment rate held steady at 5.6%.

Analysts said the figures made an imminent rise in interest rates more likely, possibly as early as late June.
Putting politics aside, I'm ecstatic about this news, especially for what it portends for those of us in the beleaguered IT sector; here's hoping we too can soon say "now is the winter of our discontent made glorious summer"...