The Economic News Continues to Rock
Since the media will not be saying much about this, here is the latest economic news released today:
Today, The Government Released New Jobs Figures – 138,000 Jobs Created In April. The economy has created about 2 million jobs over the past 12 months – and more than 5.2 million since August 2003. The unemployment rate is 4.7 percent – lower than the average of the 1960s, 1970s, 1980s, and 1990s.
The Economy Is Strong And Continues To Grow
* GDP Growth Is Strong. GDP grew at a strong 4.8 percent annual rate in the first quarter of this year. This follows our economic growth of 3.5 percent in 2005 – the fastest rate of any major industrialized nation.
* Productivity Increased At A Strong Annual Rate Of 3.2 Percent In The First Quarter.
* Hourly Compensation Rose At A 5.7 Percent Rate In The First Quarter – More Than Twice As Much As In The Previous Quarter.
* The Conference Board Index Of Consumer Confidence Increased In April To Its Highest Level In Almost Four Years.
* Industrial Production Posted A Solid Gain In March. Industrial production increased 0.6 percent in March and rose 4.5 percent at an annual rate in the first quarter.
* Consumer Spending Rose 0.6 Percent And Personal Income Rose 0.5 Percent In March.
* Over The Past 12 Months, Employment Increased In 48 States. In March, four states set record low unemployment rates.
Jayson at Polipundit has more on the latest numbers.