April 4th, 2008


Unemployment Worse than Economists Were Forecasting

Far worse, in fact. Here's the headline: U.S. Employers Cut 80,000 Jobs in March
Third-straight monthly decline is largest in five years; unemployment rate climbs to 5.1 percent.
Unemployment Rate Jumps to 5.1 Percent

There are four sectors in which hiring is up: education, health services, leisure and hospitality.

The other day my Edward Jones financial guy blew some sunshine up my ass. He said "Whenever people start talking about recession it is usually about over". He is sure things are about to turn up again, that our economy is solid and this is just a blip. I don't understand how he can call himself an investment advisor. He says the recession is ending, I say the depression is beginning.
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