This decline [in the jobless rate] is certainly the largest drop we've seen in recent months, so it does suggest a stronger labor market than we expected.

The job market is slowly tightening. We are wringing out the slack. But we're only six months into a process that could take a year and a half.

We've seen a decline in formality.

Certainly, there was nothing in Mr. Greenspan's testimony to suggest he has seen any strong preliminary data from the April employment report.

We've had discussions over the recent weeks and months.

Certainly, we are pleased to see the non-compliant rate drop back below 10 percent. However, we're increasingly concerned about the number of repeat violators. This is an issue we've been trying to address for some time with the Liquor Control Commission.