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Good news for Americans. Good news for Bush.
Good news for Americans. Good news for Bush.
US economy creates 248,000 jobs
By Christopher Swann in Washington
Published: June 4 2004 13:48 | Last Updated: June 4 2004 13:48
The US economy created 248,000 jobs in May, according to official figures released on Friday morning.
The figures are likely to bolster confidence of a sustained revival in the labour market. nalysts had been expecting a more modest rise of closer to 223,000.
The gain in May followed a job creation rate of 346,000 in April, revised up from 288.000.
The rise in employment was relatively broadbased, with job gains in both the service sector, manufacturing and construction.
Unemployment remained at 5.6 per cent and the workforce partcipation rate was also unchanged at 65.9 per cent.
The figure provides further evidence that the long period of sluggish jobs growth after the end of 2001 recession has come to an end. It is also good news for George W. Bush who has been lambasted for the heavy job losses sustained by the US economy under his stewardship. However, Mr Bush is still on course to be the first president since the Great Depression to preside over a net loss of jobs during his term in office.
The overall jobs total was reduced by a decline of 27,000 in government jobs, acording to the Labor Department.
By Christopher Swann in Washington
Published: June 4 2004 13:48 | Last Updated: June 4 2004 13:48
The US economy created 248,000 jobs in May, according to official figures released on Friday morning.
The figures are likely to bolster confidence of a sustained revival in the labour market. nalysts had been expecting a more modest rise of closer to 223,000.
The gain in May followed a job creation rate of 346,000 in April, revised up from 288.000.
The rise in employment was relatively broadbased, with job gains in both the service sector, manufacturing and construction.
Unemployment remained at 5.6 per cent and the workforce partcipation rate was also unchanged at 65.9 per cent.
The figure provides further evidence that the long period of sluggish jobs growth after the end of 2001 recession has come to an end. It is also good news for George W. Bush who has been lambasted for the heavy job losses sustained by the US economy under his stewardship. However, Mr Bush is still on course to be the first president since the Great Depression to preside over a net loss of jobs during his term in office.
The overall jobs total was reduced by a decline of 27,000 in government jobs, acording to the Labor Department.
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