It is not often that the nation's unemployment rate sinks to 4.4 percent.
It did in 2001, when dotcom entrepreneurs were still writing checks that didn't bounce. Jobs were also plentiful in the early 1970s, when the nation was at war in Vietnam. Ditto for 1957, when the economy had fewer women, teenagers, and minorities in the workplace.
Now, add October 2006 to the list.
A couple of weeks ago, Iowa Workforce Development reported that Iowa's seasonally-adjusted unemployment rate had fallen to 3.4%:
Compared to September 2005, all sectors except information and other services experienced significant growth, resulting in an increase of 30,200 at the total nonfarm level. Manufacturing was up by 5,500, followed closely by gains of 5,300 each in construction and education and health services. Professional and business services grew by 4,900 over the year, while leisure and hospitality and government were each up by 3,400. Rounding out the list of increases were gains in financial activities, which was up by 2,400; and trade and transportation, which was up by 1,600.
If everything's so peachy and rosy, why are so many politicians calling for massive tax increases and expanded government programs at the State level? Well, Iowa has 99 little empires to keep happy, for starters.
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