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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth E. Phillipps who wrote (580577)	6/4/2004 11:48:49 AM
From: Thomas A Watson	Read Replies (1) \| Respond to of 769670

lying and libeling Kenneth E. Phillipps record of being 100% wrong is sustained once again. Dear lying and libeling Kenneth E. Phillipps, Your prediction of a negative surprise in the job numbers on Friday has indeed been born out. Yes 246,000 new jobs, The joy of those 246,000 Americans must be sheer agony to poor poor lying and libeling Kenneth E. Phillipps. ROTFLOL #reply-20183589 lying and libeling Kenneth E. Phillipps prediction Jun 1, 2004 2:09 PM Tommy, Job cuts are increasing. Watch for a negative surprise in the job numbers on Friday. WASHINGTON – U.S. employers added almost a quarter million jobs in May, extending a nine-month hiring spree and accommodating enough job-seekers to hold the unemployment rate steady at 5.6 percent of the labor force. Payrolls swelled by almost 1 million in the last three months alone, the Labor Department said Friday. Employment figures for March and April were revised up to reflect the addition of 353,000 and 346,000 jobs respectively. But because tens of thousands of jobless are renewing their search for work in the wake of an improving labor market, the overall, seasonally adjusted civilian unemployment rate did not improve from April's 5.6 percent figure. Nevertheless, the snapshot of America's employment situation in May met the expectations of most private analysts and fueled anticipation of an increase in interest rates when the Federal Reserve meets at the end of this month. The Fed's main interest rate has been at a 46-year low of 1 percent, but analysts expect that to end with the jobs market steadily gaining steam. Hiring last month was widespread, with businesses adding an overall 248,000 jobs across the economy. Industries that posted the biggest gains included construction, health care, professional and business services and hotels and restaurants. The struggling manufacturing sector also is reawakening, adding 32,000 new jobs last month. It was the fourth straight month of payroll increases after almost three years of continuous losses. The payroll survey by the Bureau of Labor Statistics, reflecting the addition of those 248,000 new jobs to business payrolls, is separate from a survey of U.S. households. It is that survey which determines the unemployment rate. Friday's report was good news for President Bush, who has been counting on continued employment growth to boost his re-election prospects. The economy was expected to be a major drag on his campaign, but that might prove otherwise. Bush still is on track to be the first president since the Great Depression to have lost jobs during his watch, but those losses are shrinking. His administration was widely criticized for an overly optimistic forecast that 2.6 million jobs would be created this year. But economists now say the chugging economy could approach that mark. © 2004 Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed. newsmax.com