JOB GROWTH IN U.S. SURPRISINGLY HIGH WITH SURGE IN MAY
In a surprisingly upbeat economic report, Government figures showed today that job growth picked up smartly in May as the unemployment rate edged below 7 percent -- to 6.9 percent -- for the first time since late 1991. Analysts found much to cheer in the Labor Department data, which seemed to portray an economy finally shifting into a higher gear after two years of generally weak recovery, particularly in jobs.