The jobs data settles that question.....
April 4 (Bloomberg) -- The U.S. lost jobs for a third consecutive month in March and the unemployment rate rose to the highest level since September 2005, pointing to an economy that may already be in a recession.
Payrolls shrank by 80,000, more than forecast, after a decrease of 76,000 in February that was more than initially reported, the Labor Department said today in Washington. The jobless rate rose to 5.1 percent from 4.8 percent.
Job losses have shaken consumer confidence, contributing to a weakening in spending that has almost stalled growth. The report reinforces forecasts that the Federal Reserve, whose Chairman Ben S. Bernanke this week acknowledged the economy may face a recession, will need to do more to prevent further deterioration.
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6 comments:
Anonymous said...
Hi,
Great stuff...
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Keep up the good work!
Tammy
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Qualified Buyer said...
Everything in this article is scary but true. Many would like to deny the fact that our economy is possibly in a recession.
Amanda <3
Anonymous said...
GM announced today that it is closing another 4 car plants. Ford was debating whether to open a new plant here in the US or Mexico, guess who won? Thanks NAFTA. the econmy is going to sh@t because we do not protect our good jobs. We need some grass roots butt kickin to get lawmakers to realize we are done with their attack on middle class America. Please go to this site and support them:
www.AmericansForJobsAndEnergy.org
I saw the link on an RV blog. retired folks who full time Rv are getting pummeled.
Good Time Charlie
james moylan said...
I have a web site where I give advise on penny stocks and stocks under five dollars. I have many years of experience with these type of stocks. If their is anyone that is interested in these type of stocks you can check ouy my web site by just clicking my name. I would like to comment. I do not think that we will see real improvement in the economy until we see sustainable job growth. Recently the number of jobs created has been running around two hundred thousand a month.The GDP report that just came out recently was only 2% this is not nearly high enough to sustain employment growth of two hundred thousand jobs a month Another factor holding things back is stagnation of wages and benifits. This is good for business owners but terrible news for workers.
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