BILL HEMMER, CNN ANCHOR: On the economy front, the nation's jobless rate took a dip for the first time since December. In May it dropped to 4.4 percent. That's down 1/10 of a percentage point. But many experts do not think this will by a rallying point to help boost the sluggish economy. The labor force actually shrank by 500,000 people in May, and economists say the unemployment numbers are down only because a lot of people have stopped looking for jobs. However, those numbers took many by surprise. They were better than expected. Earlier tonight, I asked "MONEYLINE's" Lou Dobbs about what gives and what it all means.</s>LOU DOBBS, CNN ANCHOR: Well, what's giving is perhaps a little of the pessimism surrounding the labor market: the unemployment rate dropping to 4.4 percent and a decline in payrolls of only 19,000. That's tremendous. And the other part of this is the revision in previous reports suggesting that the labor market has been stronger than what the government has been reporting. So we've got some good news in these numbers.</s>HEMMER: Yes. The major markets, the major indices for the week all finished down for the week. What do we have to hang our hat on come Monday?</s>DOBBS: Well, the fact that the Dow was basically flat. The Nasdaq did take a 4 1/2 percent decline. And in terms of Monday, what we have to hang our hat on, I suppose, is a weekend of rest and reflection and a decided new direction in terms of what people want to buy and sell. Overall, we're going to get some -- some guidance on this economy through other economic reports next week. But fundamentally, I think the economy remains strong. We still have considerable volatility in these markets and still some ring-out, again, particularly in technology and telecommunications.</s>HEMMER: I am all in favor of buying a bit of rest this weekend.</s>DOBBS: OK.</s>HEMMER: Lou Dobbs from New York tonight. Thank you, Lou.</s>DOBBS: Thanks, Bill.
Unemployment Rate Declines in May, but So Does the Nation's Labor Force