Jobs surge in May adds 248000 new positions
U S employers hired 248000 in May and 1.2 million this year to date, lifting payrolls. Unemployment held at 5.6 percent as job seekers reenter the labor pool. Construction, health care, professional services, and hospitality led gains. manufacturing also rose. Wall Street moved higher on the data. President Bush praised the report amid Kerry's critique.
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Wells Fargo & Co
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John Silvia
Wachovia Securities
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Wall Street Sees Modest Gains Amid Positive Jobs Data
May employment data supported a moderate market rise as Intel’s strong update aided sentiment and oil prices fell. The Dow rose 0.5 percent to 10,242.82 while the Nasdaq fell 0.9 percent for the week, marking its first weekly loss after two gains.
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Wal Mart vows to boost women in management at meeting
Wal Mart Stores pled to promote women and minorities to management and impose a new pay system for hourly workers. CEO Lee Scott said executive bonuses could be cut up to 7.5 percent this year and 15 percent next year if goals are not met. The move follows lawsuits accusing gender bias and unfair pay.
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Fayetteville, Ark
Wal-Mart
Lee Scott
Scott
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