http://beta.moneycentral.msn.com/content/invest/extra/P90684.aspFirst-time claims for U.S. jobless benefits last week held at a level suggesting an improving labor market, but wage growth over the past year has dragged along at its slowest pace in over 20 years, government reports released on Thursday showed.
Wages and salaries rose a slim 0.6% in the second quarter and are up just 2.5% over the past 12 months, matching the period through March as the smallest 12-month gain on record dating to 1982, the Labor Department said in a report offering fuel for an election-year debate over jobs.
In a separate report, the department said initial claims for state unemployment insurance -- a rough guide to the pace of layoffs -- rose just 4,000 to 345,000 last week. Economists generally view claims below the 400,000 level as indicating an improving job market.
The petty asshole Bush is toast.