Unemployment rate falls, payrolls grow

http://news.yahoo.com/s/ap/20061103/ap_on_bi_go_ec_fi/economy

Unemployment rate falls, payrolls grow

By JEANNINE AVERSA, AP Economics Writer 5 minutes ago

WASHINGTON - The unemployment rate dropped to a five-year low of 4.4 percent in October as employers added 92,000 new jobs — flashing a picture of a strong labor market as the midterm elections draw near.

The latest report, released Friday by the Labor Department, showed that the civilian unemployment rate fell 0.2 percentage point from 4.6 percent in September. It marked the third month in a row that the politically prominent jobless rate declined.

SNIP

Workers saw solid wages gains last month.

Workers' average hourly earnings climbed to $16.91 in October, a sizable 0.4 percent increase from September. That increase was bigger than the 0.3 percent rise economists were expecting. Over the last 12 months, wages grew by 3.9 percent.

 

I hope so.

 

http://www.cnsnews.com/ThisHour.asp#Retirement Income Surged After GOP Tax Cuts, GOP Says

Retirement Income Surged After GOP Tax Cuts, GOP Says

(CNSNews.com) - Americans have seen their retirement savings surge 65 percent thanks to Republican tax cuts, House Speaker Dennis Hastert (R-Ill.) said Thursday. "Americans across economic lines can retire more comfortably through the effects of the 2001 and 2003 tax cuts. These cuts have put more money in the pockets of hard-working Americans to use toward their retirement saving and investments," said Hastert in a statement. "The measures lessened the tax burden on stocks, making these investments a new and attractive option for many more Americans," he said. According to Hastert, the GOP Congress lowered taxes on capitol gains and dividends in 2003, which grew shareholder income to $5.7 trillion from 2003 to 2006. And, Hastert said, the economic growth did not just benefit the wealthy as Democrats allege. "Democrats want you to believe that only the wealthy have benefited from these tax cuts. In reality, Republican tax cuts have crossed economic lines to benefit all Americans," he said. "Whether it's in the form of relief for personal incomes, the marriage penalty, the child tax credit, small businesses, hourly wage- earners, or retirement savings, Republicans have acted to give Americans more of their money," said Hastert.