U.S. ISM Services Index Unexpectedly Rose in April
unexpected for who?
Service industries in the U.S. unexpectedly expanded in April, signaling the damage from the housing slump and credit crisis may be dissipating.
The Institute for Supply Management's index of non- manufacturing businesses, which make up almost 90 percent of the economy, rose to 52 from 49.6 the prior month, the Tempe, Arizona-based ISM said. Readings greater than 50 signal growth.
sounds like some really good news. unless u believe americans are deerintheheadlight numbnuts expecting uncle sam to pull their biscuits out of the fire. we'll do just fine, thank you very much. lemons into lemon meringue pie and all that.
so how come this sounds so bad!
Unemployment rate dips but part-time work increases
One reason for the nominal improvement in the unemployment was a sharp increase in workers taking part-time jobs because they were unable to work full-time.
gasp! that's all i did in school was work part-time. who hasn't in order to make it? gotta have that doomngloom though.
Workers who involuntarily take part-time jobs are not counted as unemployed. Neither are the estimated 1.4 million "discouraged" workers, who have stopped looking for employment.
Democrats in Congress seized on the report as evidence that the administration's economic policies are inadequate.
5.1% unemployment? don't help us congressman. PLEEEZE don't help u.s.!
