Economic boom as unemployment rate jumps to 5.1% and loses 80,000 jobs

[Thorgrim]

WASHINGTON - Employers buffeted by talk of recession slashed 80,000 jobs in March, the most in five years and the third straight month of losses.

At the same time, the national unemployment rate rose from 4.8 percent to 5.1 percent, the clearest signal yet that the economy might already be shrinking.

Employers cut 80,000 jobs in March - Stocks & economy - MSNBC.com

No recession to worry about, the economy is fine

At this point, it seems we're headed for such a tangle, does it really matter if we ever reach some magical recession definition?

People are going to go to the booths angry over the economy, war, 8 years of bush...and I really doubt McCain will be there answer once millions of dollars the Demcrats are getting are through dispelling St. McCain myths

[northhunter]

If you look at the U.S. Dept of Labor statistics for the past 20- 30 years unemployment of 5.1% is not that big a deal. I'm not trying to minimize the impact to the people out of work but historically 5.1% is pretty good it looks like.


Where can I find the unemployment rate for previous years?

If you look at the last 29 years of data available the average unemployment rate is 6.1%

[Stylerod]

Originally Posted by northhunter

If you look at the U.S. Dept of Labor statistics for the past 20- 30 years unemployment of 5.1% is not that big a deal. I'm not trying to minimize the impact to the people out of work but historically 5.1% is pretty good it looks like.


Where can I find the unemployment rate for previous years?

If you look at the last 29 years of data available the average unemployment rate is 6.1%

Please stop with the facts. It's not appreciated around here

[6SpeedTA95]

5.1% is considered full employment. In fact a minor tick up in unemployment isn't necessarily a bad thing as it adds a bit of movement to the labor markets. If it continues to trend up we may have a problem, but unemployment shouldn't be worried about until we approach the 6% area.

[Thorgrim]

Originally Posted by 6SpeedTA95

5.1% is considered full employment. In fact a minor tick up in unemployment isn't necessarily a bad thing as it adds a bit of movement to the labor markets. If it continues to trend up we may have a problem, but unemployment shouldn't be worried about until we approach the 6% area.

UR can go up with job growth (ex we add 5,000 the quarter but population increases...)

But UR going up because of job LOSS is a really grim sign, even if 5.1, in and of itself, isn't horrible

[David Octavius]

Originally Posted by Stylerod

Please stop with the facts. It's not appreciated around here

You look at the surface only, lets look at the big picture - there is still a housing crises, the financial market is still having problems, we have 3 consecutive months of job losses and the economy slowed down A LOT in the 4th quarter. Added to that a slow down in retail sales at the moderately to high price shops equals a not too nice looking economic picture.

[6SpeedTA95]

Originally Posted by Thorgrim

UR can go up with job growth (ex we add 5,000 the quarter but population increases...)

But UR going up because of job LOSS is a really grim sign, even if 5.1, in and of itself, isn't horrible

I disagree, at this point people are finding jobs quickly after losing them. I am not happy about unemployment creeping up and the unemployment rolls rising to 80k, but its not grim, at least not yet, hopefully it wont get that way

[Spideynw]

Originally Posted by David Octavius

You look at the surface only, lets look at the big picture - there is still a housing crises,

Housing crisis? You must simply watch the evening news. The overblown "housing crisis" that the news touts means that foreclosures have simply gone up from .5% to 1%.

Why anyone would trust the mainstream news for their information is beyond me. It is their job to create hype.

[Thorgrim]

Uhm...every major city and even smaller ones in PA are dealing with a huge housing crisis, I can testify first hand to a huge jump in request for mortage help, in Philly and other places they'd have to shut down home ownership help programs that have been running for many years because of a flood of people losing their homes...

[David Octavius]

Originally Posted by Spideynw

Housing crisis? You must simply watch the evening news. The overblown "housing crisis" that the news touts means that foreclosures have simply gone up from .5% to 1%.

Why anyone would trust the mainstream news for their information is beyond me. It is their job to create hype.

You have no comprehension of the meaning of statistics: the relationship of percentages to actual numbers and it's affects on the economic world

[kombayn]

There is a housing crisis, you'd be surprised with all the houses in my community are for sale or for rent. This really effects the average cubical worker. Because they are the ones that get laid-off, in my line of work, there will always be jobs available. It sucks for those people, getting laid off is no fun, but people need to live with-in there means. But, people never do and it's sad because they screw children over in the process.

[Donkey®]

Originally Posted by northhunter

If you look at the U.S. Dept of Labor statistics for the past 20- 30 years unemployment of 5.1% is not that big a deal. I'm not trying to minimize the impact to the people out of work but historically 5.1% is pretty good it looks like.


Where can I find the unemployment rate for previous years?

If you look at the last 29 years of data available the average unemployment rate is 6.1%

You can also look back at the past 30 years of US population and realize that 5% of the population back then is not = to 5% of the population now.

[WickedLou9]

Originally Posted by Spideynw

Housing crisis? You must simply watch the evening news. The overblown "housing crisis" that the news touts means that foreclosures have simply gone up from .5% to 1%.

Why anyone would trust the mainstream news for their information is beyond me. It is their job to create hype.

You're smoking crack.
Have you heard about Bear Sterns going under and the 30 billion dollar federal bailout? yeah that was the housing crisis.