NEWS FOR THE WEEK OF OCTOBER 30, 2006
92,000 Jobs Were Created In Oct. – More Than 6.8
Million Have Been Created Over The Last 38 Months.
(House Education & Workforce Committee, Press Release, 11/3/06)
• An Additional 139,000 Jobs Were Created In Aug.
And Sept.: Job Growth Was Revised From 51,000
To 148,000 In Sept. And From 188,000 New Jobs
To 230,000 In Aug. (“Unemployment Rate Falls, Payrolls
Grow,” The Associated Press, 11/3/06)
The Unemployment Rate Fell From 4.6% In Sept. To
4.4% In Oct., Its Lowest Level Since May 2001. (Bureau
Of Labor Statistics Website, www.bls.gov, Accessed 11/3/06)
• The Rate For African Americans Fell From 9.2%
To 8.6%, The Lowest Since Aug. 2001. (Bureau Of
Labor Statistics Website, www.bls.gov, Accessed 11/3/06)
• The Rate For Hispanics Fell From 5.4% To 4.7%
And Is It Its Lowest On Record. (Bureau Of Labor
Statistics Website, www.bls.gov, Accessed 11/3/06)
Corporate Layoffs Were Down 31% In Oct. (“Layoffs Fall
31% In October, Challenger Says,” MarketWatch, 11/2/06)
The U.S. Government Will Borrow $41 Billion Less
Than Previously Expected In The 4th Quarter Due To A
“Surge” In Corporate Tax Receipts. (“U.S. Government
Expects To Borrow Less Than Forecast,” The Associated Press,
10/30/06)
The Federal Deficit Hit A 4-Year Low In FY 2006. (“U.S.
Government Expects To Borrow Less Than Forecast,” The Associated
Press, 10/30/06)
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Oct. 2006 Marked Best Month For All Major Stock
Indices Since Oct. 2003:
• The Dow Jones Industrial Average Increased
3.4%;
• The Nasdaq Rose 4.8%;
• The S&P 500 Climbed 3.2%. (“Wall Street Logs Best
October In Three Years,” MarketWatch, 10/31/06)
For The Year (As Of Nov. 2 Close):
• The Dow Is Up 12.1 Percent.
• The Nasdaq Is Up 5.8 Percent.
• The S&P Is Up 9.5 Percent. (Yahoo Finance Website,
http://finance.yahoo.com/, Accessed 11/2/06)
Real Earnings Have Increased 2.2% In The Last Year.
(Joint Economic Committee, Press Release, 10/18/06)
Hourly Wages Were Up 3.9% In The Last Year. (“Oct.
Jobless Rate At Lowest Rate In Five Years,” MarketWatch, 11/3/06)
According To The Institute For Supply Management,
Economic Activity In The Manufacturing Sector Grew
In Oct. For The 41st Straight Month. (Institute For Supply
Management, Press Release, 11/1/06)
• Factory Orders Grew 2.1% In Sept. (“Transportation
Lifts U.S. Factory Orders,” MarketWatch, 11/2/06)
According To The Institute For Supply Management,
Economic Activity In The Non-Manufacturing Sector
Grew In Oct. For The 43rd Straight Month. (Institute For
Supply Management, Press Release, 11/1/06)