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Politics : PRESIDENT GEORGE W. BUSH
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To: Kenneth E. Phillipps who wrote (686838)6/23/2005 1:31:49 PM
From: Hope Praytochange  Read Replies (1) of 769670
 
The improvement in jobless claims helped lower the four-week moving claims average to 333,000, down from 335,500 the previous week.

The unemployment rate in May dipped to 5.1 percent, the lowest level in nearly four years, even though American businesses created only 78,000 payroll jobs last month. That was the smallest increase in 21 months and down sharply from a surge of 274,000 jobs in April.

Greenspan told Congress two weeks ago that he believed the economy was on a ''reasonably firm footing'' with inflation remaining under control and economic growth expected to remain strong in coming months.

Those comments were seen as further evidence that the Federal Reserve, which has raised interest rates eight times over the past year, will boost rates again when policy-makers meet next week and keep raising rates at a gradual pace through the summer and perhaps well into the fall.
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