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Friday, May 2, 2008

Off topic but I can't resist spreading good news

The New York Times reports:

...the [U.S.] economy shed 20,000 jobs, the fourth consecutive month of decline. The drop in payrolls was less severe than expected...Economists had been bracing for a decline of up to 85,000 jobs, in line with the rate of losses over the first three months of the year. Instead, service industries like restaurants and medical care recorded a surge of new hires, according to the Labor Department.

The unemployment rate dropped as well, to 5 percent from 5.1 percent in March, as a separate survey of households, which is considered more volatile, showed that employment actually rose last month.