Spending up in April; job data strong in May

Consumers continued to spend in April, while employment numbers grew last month, signaling that the economy still is…

Consumers continued to spend in April, while employment numbers grew last month, signaling that the economy still is growing, albeit slowly.
Spending by consumers edged up 0.5%, higher than the 0.3% gain in March.
Meanwhile, payroll numbers grew by 157,000 last month, nearly double the 80,000 gain in April.
The unemployment rate held steady at 4.5%.

Aflac Japan chairman to retire July 1
Hidefumi Matsui, chairman of Aflac Japan in Tokyo, will retire effective July 1.
He will be succeeded by current president, Akitoshi Kan.
Aflac Japan is a unit of American Family Life Assurance Company of Columbus in Georgia.

Fed governor Kroszner optimistic on economy
Things are looking up for the economy, Federal Reserve Board governor Randall Kroszner said Friday.
“Activity was held down in the first quarter, in part by several factors that seem likely to prove transitory,” he said in a speech at the spring meeting of the Washington-based Institute of International Finance Inc. in Athens, Greece.

Consumer confidence kicks higher
The confidence of U.S. consumers improved last month, with the Index of Consumer Sentiment rising to 88.3, from 87.1 in April, and well above the 79.1 registered in May 2006.

10-year wait doubles cost of LTC insurance
A 55-year-old who bought a $150-a-day long-term-care insurance policy would pay about $1,027 a year, the American Association for Long-Term Care Insurance in Westlake Village, Calif., said Friday.
But if a buyer waited until age 65, the same policy would cost about $1,939 in today’s dollars.