Friday, February 07, 2003 :::
U.S. jobless rate drops to 5.7 percentAnalysts had expected the unemployment rate to hold steady at 6 percent for a third straight month, with a more modest increase in payrolls.
I'm especially excited, I think, because it was a .3 point jump in May of 2001 that convinced me that we were definitely headed toward recession, which I merely regarded as highly probable before that. I think there's a good chance there's some noise in this number, especially since it was so unexpected, and so I wouldn't be suprised at all if it ticks back up a bit next month, but it's good news.
::: posted by dWj at 9:58 AM
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