Anytime we have good news for Bush, we hardly ever see it here. So... Here you go.
http://www.reuters.com/newsArticle.j...toryID=4741374
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By Tim Ahmann
WASHINGTON (Reuters) - U.S. employment rose last month at the fastest pace in nearly four years as hiring jumped in a wide array of industries, the government said on Friday in a surprisingly strong report that stunned financial markets.
The report, which showed the labor market finally making a decisive break out of a long slump, buoyed the re-election hopes of President Bush, who has been blasted by Democrats over the jobs lost on his watch.
Markets judged it brought nearer the day the Federal Reserve would raise overnight interest rates from 1958 lows, but analysts said the central bank would have to see a string of good jobs gains before pushing rates up.
The Labor Department said non-farm payrolls climbed a steep 308,000 in March, the biggest gain since April 2000 and well above the 103,000 rise expected on Wall Street.
The unemployment rate, which is determined by a survey separate from the jobs tally, ticked up to 5.7 percent from the two-year low of 5.6 percent in January and February. But economists largely dismissed the rise as insignificant.
"All in all, this is a very strong report," said Kurt Karl, head of research at Swiss Re in New York. "It bodes well for the economy going forward."
The big jump in payrolls stood in sharp relief to the average gains of around 75,000 new jobs in the prior six months. It trimmed the number of jobs lost since Bush took office to a still-hefty 1.8 million.
Administration officials said the report showed the president's tax-cut policies were helping the economy. (Bullshit)But Democrats said the data did little to erase a record of economic mismanagement.(/Bullshit)
U.S. bond prices plunged -- the benchmark 10-year issue posted its biggest move in over five years before retracing -- as investors were caught flat-footed by the payrolls strength.
The dollar shot higher and stock prices rose. The blue chip Dow Jones industrial average closed up 97 points at 10,470.
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Regardless of your political views, this is VERY good news!!
I personally feel that the Tax cuts helped a bit. And you must admit, We've gotten back on our feet from 9|11 almost.. The Democrats blame bush for the economy, but MUCH of it was not his fault, 9|11 happened, and SLAMMED the economy down so fast, many large companies died--and many like TYCO were busted for cooking the books.