U.S. companies added 288,000 workers in
April and the unemployment rate fell to 5.6 percent. Job gains in
the last two months were the most since early 2000, giving a lift
to President George W. Bush’s re-election campaign and boosting
chances the Federal Reserve will raise interest rates next month.
April’s increase exceeded the highest forecast and follows a
revised gain of 337,000 jobs in March that was larger than
estimated last month, the Labor Department reported in
Washington. Services added 246,000 jobs and manufacturers created
the most jobs since July 2000.
Rhode Island's Market Has Changed. Developers, Builders, Investors and Sellers Must Change With It.
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“The Bush administration has to be very happy with a number
like this,” said Douglas Lee, president of Economics From
Washington. “It certainly moves the Fed closer to a decision to
start raising rates,” he said.
Bloomberg News
