Community | May 04, 2008 | 5 comments

Unemployment rate dips to 5%

source: http://money.cnn.com/2008/05/02/news/economy/jobs_april/index.htm?postversion=2008050210

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muckraker

http://money.cnn.com/2008/05/02/news/economy/jobs_april/index.htm?pos...

The unemployment rate slipped to 5% from the 5.1% reading in March. Economists had been forecasting unemployment would rise to 5.2% in the latest report.

"It's not good news, but it's not as bad as we thought it would be," said David Wyss, chief economist for Standard & Poor's. "It's consistant with the view it's going to be a mild recession, but an extended one, where you spend a lot of time bouncing around the bottom."
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5 comments // Unemployment rate dips to 5%

  • muckraker
    • 0
      muckraker  

    • unemployment only counts those who are seeking work. not those who where trying, then stopped only those seeking work. I believe the numbers might be worse as well.

    • 5 years ago
  • 1percent
    • 0
      1percent  

    • What that statistics don't take into account are all the people who are no longer eligible for unemployment benefits. Therefore they are no longer counted.
      As well as those who just don't partake in the system.
      Like those who work "off the books" or for "under the table" pay.
      I feel the numbers are a lot worse than is really being represented.

    • 5 years ago
  • muckraker
  • jimmyp
    • 0
      jimmyp  

    • Will rising food prices world wide force an increase in wages and eventually the return of jobs to the US? Nah...just a thought.

    • 5 years ago
  • Ice_cream_Man

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