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Strategies & Market Trends : Trader J's Inner Circle

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Dec 19 9:30 AM EST

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To: ajtj99 who wrote (43747)	6/1/2001 8:57:21 AM
From: Nicole Bourgault	Read Replies (1) of 56535

U.S. unemployment dips While job cuts continue in May, jobless rate unexpectedly drops to 4.4% June 1, 2001: 8:48 a.m. ET NEW YORK (CNNfn) - The U.S. unemployment rate dipped slightly in May, the government reported Friday, meaning the labor market was a little stronger than expected even though businesses continued to cut jobs. The Labor Department reported the unemployment rate stayed at 4.4 percent in May, down from 4.5 percent in April. Wall Street analysts polled by Briefing.com expected unemployment to jump to 4.6 percent. The report also said businesses cut 19,000 jobs outside the farm sector in May, after cutting a revised 182,000 jobs in April. Economists polled by Briefing.com expected 25,000 job cuts. Average hourly wages rose 0.3 percent to $14.26, as analysts expected, compared with $14.22 in April.

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