Posted 4:08 PM by Robert

From The Joint Economic Committee

1. Recent Economic Developments – A Surge in Job Growth

Highlights:

Payroll employment increased by 308,000 jobs in March. The unemployment rate edged up to 5.7%.

The final estimate of 4th quarter GDP kept growth at a robust 4.1% annual rate. Blue Chip forecasts are for GDP to grow 4.7% in 2004, the highest in 20 years.

Corporate profits grew at a 7.2% annual pace in the 4th quarter. Growth in profits has been very strong in the past three quarters.

Context:

Payroll growth in March was the fastest in nearly 4 years.

The current unemployment rate of 5.7% is lower than the average unemployment rate during the 1970’s, 1980’s and 1990’s.

Over the past 7 months, payrolls have added 759,000 jobs.

New claims for unemployment insurance are at their lowest level in 3 years.


2. A Primer on Individual Retirement Accounts (IRAs)

It's an intersting read.