Unemployment Numbers Down Again

The Jobs Report is in, and unemployment is once again down considerably, currently sitting at an amazing 4.7%, the lowest rate since July of 2001. The types of jobs created surprised some

Job gains were fairly broad based, with employment growing in construction, manufacturing, professional and business services and education and health care. Those employment gains blunted job losses in retailing and government.

For all of 2005, the economy created nearly 2 million jobs — close to the the number posted for 2004, according to annual revisions.

As most economist will tell you, anything under 5% is considered to be essentially full employment. Add in the record tax revenues in December, and the rise in labor costs, and it is easy to understand our continued GDP growth.

This article makes an interesting point

Despite good news on some economic matters, Americans still feel anxious about the economy, polls indicate.

...are we paying attention?