Above: Economist
Any working person could have told them this ages ago, but today the economists finally figured out that we are indeed in a recession:
The US economy has now been shedding jobs for three consecutive months, nearly eliminating any doubt in the minds of economists that the US is in recession.
'Clear and unmistakable recession signals from the labor market,' Bear Stearns economists called today's numbers...
According to today's Labor Department report, the US economy lost 80,000 non-farm payroll jobs in March, compared to the 50,000 job loss economists polled by Thomson's IFR Markets had expected, although some individual forecasters had predicted an even larger loss.
February and March payrolls were revised down by 67,000 jobs for a total cumulative loss of 152,000 jobs.
Today's report marks the first time since June 2003 that the economy lost jobs in three consecutive months, and the 80,000 decline was the biggest loss since March of that year.
If you want more detail on those employment statistics, you can get the complete report from the Bureau of Labor Statistics Web site.
Comments (1)
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Haha! That picture is EPIC!! I'm laughing my f***ing *ss off!!
Posted by Matthew on October 6, 2008 at 4:27 AM
Posted on October 6, 2008 at 4:27 AM