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The stock market rose above 11,000 for the first time since September 11.(Brief article)

National Review

| January 30, 2006 | COPYRIGHT 2006 National Review, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

* The stock market rose above 11,000 for the first time since September 11. It was just the latest indication of a strong economy. We have now had ten quarters with strong growth (above 3 percent annualized). The unemployment rate, at 4.9 percent, is below the average of recent decades and falling. Carpers--given the fact that Republicans control the White House, they're Democrats--point to the weak performance of real average hourly earnings in 2005. But it's not a great reason for gloom. In the first place, this wage figure did pretty well during the last recession. It is up 1 percent from the cyclical peak in 2001. At the same point in the last business cycle, hourly ...

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