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stlrtruck
05-02-2008, 11:21 AM
http://www.rr.com/flash/index.cfm?rev=10335&division=279

By JEANNINE AVERSA - AP Economics Writer

WASHINGTON(AP) Employers cut far fewer jobs in April than in recent months and the unemployment rate dropped to 5 percent, a better-than-expected showing that nonetheless reveals strains in the nation's labor market.

For the fourth month in a row, the economy lost jobs, the Labor Department reported Friday. But in April the losses totaled 20,000, an improvement from the 81,000 reductions in payrolls logged in March. Job losses for both February and March turned out to be a bit deeper than previously reported.

The latest snapshot of the nationwide employment conditions _ while clearly still weak _ was better than many economists were anticipating. They were bracing for job cuts of 75,000 and for the unemployment rate to climb to 5.2 percent.

The unemployment rate, derived from a different statistical survey than the payroll figures, fell to 5 percent from 5.1 percent in March. That survey showed more people finding employment than those who didn't.

Businesses are handing out pink slips as they cope with an economy that is teetering on the edge of a recession, or possibly in one already. A severe housing slump, harder-to-get credit and financial turmoil have forced people and businesses to be more cautious in their spending. And that has hurt the economy.

To help relieve credit problems, the Federal Reserve announced Friday that it would boost the availability of short-term loans to commercial banks to $150 billion in May from the $100 billion supplied in April. The goal is to supply a source of cash to squeezed banks so that they'll keep lending to customers.

The Fed took the action and several other moves to boost credit in coordination with the European Central Bank and the Swiss National Bank.

In other economic news, the Commerce Department reported that orders to U.S. factories rose a bigger-than-expected 1.4 percent in March, after two straight months of declines.

The fresh economic news lifted Wall Street. The Dow Jones industrials were up more than 50 points in morning trading.

On the jobs front, construction companies slashed 61,000 positions in April. Manufacturers cut 46,000 and retailers got rid of 27,000. Those losses were eclipsed by job gains in education and health care, professional and business services, the government and elsewhere.

The job losses came in areas hardest hit by the housing and credit debacles. The fact that fewer job cuts were ordered in April raised hopes that damages could be limited.

"A decline in job growth is never welcome but the economy does seem to be showing some resilience," said White House spokesman Tony Fratto. Echoing that sentiment, Commerce Secretary Carlos Gutierrez, in an interview with The Associated Press, said the new job figures are "sort of bittersweet _ better than expected but we're still going through a difficult first half."

Voters are keenly worried about the country's economic problems and so are politicians _ in Congress, in the White House and on the campaign trail.

There were 7.6 million people unemployed as of April, up from 6.8 million a year earlier.

Workers with jobs saw scant wage gains.

Average hourly earnings for jobholders rose to $17.88 in April, a tiny 0.1 percent rise from the previous month. That was less than the 0.3 percent rise economists were forecasting. Over the last 12 months, wages have grown by 3.4 percent.

The weak labor market is making employers feel less generous with compensation.

Meanwhile, zooming energy and food prices are taking a bite out of paychecks. If the job market continues to falter, wage growth probably will slow, too, making people even less inclined to spend. That would spell further trouble for the economy.

tony hipchest
05-02-2008, 11:46 AM
http://i132.photobucket.com/albums/q23/shortyshane_2006/Bush2020Corn202.jpg

TroysBadDawg
05-02-2008, 12:28 PM
No Congress is the problem.

They are sending out checks to everybody who paid taxes as a way to get more votes but they are saying it is a way to stimulate the economy.

Ask ourself this, where did they get the money to send the checks out? Did they borrow it from a foreign nation like China or Japan? OR are they just sending us further in debt by send us paper money that is worthless and the world markets are turning to the Euro as the Standard?

Just asking questions mind you?

PisnNapalm
05-02-2008, 02:15 PM
President Bush is not responsible for all that is wrong with the world. I blame it more on the oil companies and the Democrat controlled Congress than anything else.

Dino 6 Rings
05-02-2008, 02:46 PM
I blame my neighbor. He keeps throwing broken sticks and limbs onto my lawn. I know its him. He's at fault for everything in the world!

stlrtruck
05-02-2008, 02:52 PM
I blame my neighbor. He keeps throwing broken sticks and limbs onto my lawn. I know its him. He's at fault for everything in the world!

Can I have his address so my wife can write him a letter (or possbly even show up on his doorstep - don't worry I'll make sure she bakes you something)!!! :rofl:

TroysBadDawg
05-02-2008, 02:58 PM
Can I have his address so my wife can write him a letter (or possbly even show up on his doorstep - don't worry I'll make sure she bakes you something)!!! :rofl:

CAn you get her to bake me some thing too? My wife burns everything but chocolate chip cookies, and I don't like chocolate.

stlrtruck
05-02-2008, 03:02 PM
CAn you get her to bake me some thing too? My wife burns everything but chocolate chip cookies, and I don't like chocolate.

Depends is your neighbor responsible for everything too?

Then I could get her to make you something black and gold.

Preacher
05-02-2008, 03:07 PM
I blame my neighbor. He keeps throwing broken sticks and limbs onto my lawn. I know its him. He's at fault for everything in the world!

You know...
that is just about the right response for this thread!

Atlanta Dan
05-02-2008, 03:12 PM
No Congress is the problem.

They are sending out checks to everybody who paid taxes as a way to get more votes but they are saying it is a way to stimulate the economy.

Not everybody:mad:

And of course Bruce Arians is to blame for this

Cape Cod Steel Head
05-02-2008, 04:15 PM
No Congress is the problem.

They are sending out checks to everybody who paid taxes as a way to get more votes but they are saying it is a way to stimulate the economy.

Ask ourself this, where did they get the money to send the checks out? Did they borrow it from a foreign nation like China or Japan? OR are they just sending us further in debt by send us paper money that is worthless and the world markets are turning to the Euro as the Standard?

Just asking questions mind you?I could have sworn the the whole stimulus check idea was Bush's.

Dino 6 Rings
05-02-2008, 04:44 PM
You know...
that is just about the right response for this thread!

Thanks, but it is him. Everytime I go to mow, his yard is completely Stick Free, and mine, right up to his lawn line, covered in sticks...as if the branches only fall on my lawn. I'm sure he isn't taking them down his hill and tossing them in the woods...he's putting them on my lawn, dang it. And I think he blew his acorns into my yard as well. I'm going to pin that on him too even if he diddn't do it.