Friday, August 01, 2003

And Then There's This

"Today's drop in the unemployment rate is positive and surpasses market expectations. The drop in the labor force is due primarily to seasonal factors.

"We are encouraged by the steadily declining four-week moving average of new unemployment insurance claims, which also shows that job losses are slowing down significantly.

"We can also see where the new jobs are being created, such as temporary help services, which tends to be a leading indicator that signals stronger, more widespread job growth in the future. Other areas with job growth include leisure and hospitality, financial activities and, for the fifth straight month, construction."

-- Secretary of Labor Elaine L. Chao on July unemployment numbers released today, August 1, 2003

via U.S. Newswire

No comments: