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Politics : Formerly About Advanced Micro Devices

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From: tejek5/6/2005 12:36:34 PM
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Job Market Burns Bright

By Mike Marino
TheStreet.com Staff Reporter
5/6/2005 10:09 AM EDT

The U.S. economy continues to confound its handicappers, generating 274,000 new jobs in April, thanks to major gains in the service-producing industries. The data lifted stocks and hammered bonds, where traders reckoned that the brisk pace of growth ensures more Federal Reserve interest rate hikes.

The number of nonfarm jobs added was about 100,000 more than economists had expected. The unemployment rate held steady at 5.2%, while average hourly earnings rose by 0.3%, one-tenth of a percentage point above estimates.

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thestreet.com
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