Still better then nearly all of the last 38 years.
Posted on 03/07/2008 12:50:44 PM PST by NoWayMcCain
NEW YORK (CNNMoney.com) -- Employers made their deepest cut in staffing in almost five years in February, the Labor Department reported Friday.
There was a net loss of 63,000 jobs, which is the biggest decline since March 2003 and weaker than the revised 22,000 jobs lost in January. Economists had forecast a gain of 25,000 jobs.
The weak report fueled already mounting recession fears and is likely to keep the Federal Reserve cutting interest rates further when it meets later this month.
"Based on today's Employment Report, if we are not in a recession, it is a darned good imitation of one," said Kevin Giddis, managing director of fixed income at Morgan Keegan. "We are in an unprecedented real estate and credit crisis that is whipping its way through the U.S. economy like a Midwestern tornado."
(Excerpt) Read more at money.cnn.com ...
No where in that first paragraph do you see that unemployement fell to 4.8% (beyond full employment).
But that would be going against the newsmedia talking down the economy.
Considering we have gone a record time for job increases this sounds worse than it is...
It's posted just under the headline.
http://money.cnn.com/2008/03/07/news/economy/jobs_february/?postversion=2008030711
Job losses: Worst in 5 years
Payrolls sink in February, fueling recession anxiety. Unemployment rate declines, but that's because there are fewer people in the workforce.
Ummm.... still better than when Clinton was in office, less than 7.5 %. Why compare BEST to less than best? If we are in a recession now, we must have been in a DEPPRESION during Clinton. The media is really trying to get to a “ It’s the Economy, Stupid.” moment to downplay Bush’s legacy.
Fewer people in the work force, how do they eat?
And no where do you read about how many of those job losses were not in the public sector but in Government jobs, which is not a bad thing if those numbers fall.
Oh joy, more Gov’t jobs.
Half of them laid off by Hillary Klinton’s campaign.
vs CNN during Clinton:
July 5, 1996 WASHINGTON (CNN) -- Economists didn't expect June's unemployment rate to be much different from May's, which was an already-low 5.6 percent.
5.6 is already low under clinton. 4.9 is something you improve from under Bush.
See BGHater's #9.
Still better then nearly all of the last 38 years.
Or by mortage lenders who made bad loans.
Why don't they just go ahead and make interest rates 0.00, and be done with it? /sarc
Well, the answer is clear, we just need more Government jobs, so everyone can work!
Bass Pro Shops cleaned out its design department today with the exception of 5 people. Bass Pro is feeling the pinch like most retailers are. But everything is fine isn’t it? Ask those people who got the axe.
They did in Japan a couple of years ago.
Design ... product or advertising?
Excellent! Time for $110.00 oil.
Yowza!
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