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Tenet's Out; Rudy Can't Fail? »
June 03, 2004
ISM Jobs Report: *tuk tuk tuk tuk*
While overall activity slips a little (although still indicating good growth), it's the jobs component that surprises, rising two points and giving hope for a stronger-than-expected jobs report tomorrow.
Manufacturing, construction, and services all show job growth at or near 20-year-highs. What's left, precisely?
Productivity was revised up higher; initial first-time jobless claims fell; wages were up. On the downside, factory orders dropped and the costs-of-production increased, feeding inflation fears.