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May 07, 2004
Job Growth is looking robust
The Bureau of Labor Statistics released its data on the April employment this morning.
Highlights:
* Over 1.1 million payroll jobs have been created in the past 8 months.
* Manufacturing employment has increased for 3 consecutive months, adding 37,000 jobs over that period and reversing a trend of nearly 4 years of declines.
* Payroll employment was revised up by 29,000 jobs for March, reflecting an even stronger labor market than was earlier estimated.
* 867,000 jobs have been created this year alone.
* Initial jobless claims declined by 25,000 this week. Following more than a year of declines, weekly initial jobless claims are now at their lowest level since October 2000.
This link shows job creation, which has shown a net increase in jobs every month since last September.
This chart shows jobs are even stronger than many reports, as the household survey (which includes self-employed and start-up entrepreneurs) is also included. What is interesting in this chart is that both measures of employment are looking strong. Entrepreneurship is leading this economy, and it is now bringing more traditional jobs along with it.
Posted May 7, 2004 03:11 PM
at Belmont University in Nashville, Tennessee. He consults with a variety of businesses on start-up and growth related issues, and with larger corporations on re-establishing entrepreneurial cultures within their organizations. Dr. Cornwall's current research interests include entrepreneurial finance and entrepreneurial ethics. He has authored or co-authored four books.
