Monday, May 5, 2008

U.S. Economy Showing Signs of Life. : Economy shows signs of life

Employers shed jobs in April for the fourth consecutive month. but at a much slower pace than analysts expected, and the unemployment rate actually improved to 5 percent, a government report said Friday.

Coupled with Wednesday's first-quarter economic growth numbers, which also were better than expected at 0.6 percent, the new employment statistics point to an economy that's not robust but appears safe from deep contraction.

Employers cut 20,000 jobs in April, well below the 80,000 expected in the consensus forecasts of mainstream economists. And the unemployment rate dipped slightly from 5.1 percent to 5 percent. By Kevin G. Hall.

The mainstream economists are wrong again. They say we are in a recession right now but the country's economic growth during January through March was the same as in the final three months of last year showing economy still avoiding a downturn. Earlier this year,some mainstream economists thought the economy would actually lurch into reverse during the opening quarter.

The Mainstream Economist predicted 80,000 job loses, but employers cut only 20,000 jobs in April. The unemployment rate in April actually improved to 5 percent. Last year in April 2006 the unemployment rate was at 4.7 percent. And did you know that 15 percent of those unemployed were teenagers? I wonder how many teenager are in the 5 percent?

Mainstream Economist are like Weathermen, trying to predict what is going to happen, but most of the time their wrong.

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