Quick Overview

• U.S. Nonfarm payroll employment rose a stronger than expected 274,000 in April, and the unemployment rate held at 5.2 percent. Jobs in the previous two months were revised up by a total 93,000. Stock traders seem to interpret much stronger-than-expected Apr. job growth as a sure sign that the Fed will continue raising interest rates.
  
  
• Tokyo's food safety commission said it would recommend the government waive mad cow disease tests for cattle younger than 21 months, a move toward lifting the ban on American beef imports to Japan.
  

• Lobbyist Had Close Contact With Bush Team
  As for the number of Abramoff lobbying team contacts with Bush officials documented in the billing records, Healy said: "We do not know how he defines 'contacts.'"
  

• Study finds decline in global press freedom .. USA is ranked 24th
  
  
• Canada's unemployment rate fell from 6.9% to 6.8% in April, the lowest in over four years.
  
  
• Manufacturing orders in Germany were up 2.2% in March, stronger than expected.