The number of new people signing up for jobless benefits last week fell sharply, a fresh sign that employers are feeling better about the business climate.
The Labor Department reported Thursday that new applications filed for unemployment insurance dropped by 10,000 to 303,000, the best showing since the beginning of April. The level of new jobless-benefit filings suggest that the labor market is maintaining decent momentum.
Last week's decline was steeper than analysts were expecting.
The report follows news this week that the number of businesses owned by black entrepreneurs grew more than four times the national rate for all businesses from 1997 to 2002. Black entrepreneurs owned 1.2 million businesses in 2002, an increase of 45 percent from 1997, according to the U.S. Census Bureau.
“It’s encouraging to see not just the number but the sales and receipts of black-owned businesses are growing at such a robust rate, confirming that these firms are among the fastest-growing segments of our economy,” Census Bureau Director Louis Kincannon said in a statement.
All this good news means just one thing: the Bush Economic Boom is in full swing. According to the U.S. Department of Labor, 211,000 new jobs were created in March, far more than experts had predicted. And the unemployment rate dropped to 4.7 percent, below the average of the 1970s, 80s, and 90s.
The U.S. economy has created more than five million new jobs since August 2003 -- two million in the last year alone. And this economy isn't just producing more jobs, it’s producing good-paying jobs, according to a recent Christian Science Monitor story.
Republican pro-growth tax policies have created this strong economy and millions of new good-paying jobs, and the last thing the American people need right now is a massive tax increase. While the Democrats attempt to raise taxes and paint a gloomy economic picture, the U.S. economy is humming right along, creating new jobs and providing too much good news for Democrats to ignore.