Friday, April 04, 2008

The U.S. Economy

I am not much of an economist nor do I consider myself one but anyone who pays even the slightest attention to the news has figured out by now that the U.S. economy is either in or headed towards somewhat of a recession. Over the course of March, the U.S. economy shed some 80,000 jobs in this article that I just glanced over this morning while checking my daily internet spots.

The article said, "Employers cut payrolls for a third month in a row in March and the unemployment rate jumped to a 2-1/2 year high, more evidence that a housing downturn and credit crisis may have pushed the economy into a recession."

It went on to say that those 80,000 some odd jobs that were lost in March was the biggest decline in nearly 5 years. The March unemployment rate also went up from what it was is February from 4.8% to 5.1%. This should be a cause for concern for most American middle class citizens. With the fact that energy and food prices are both going to continue to increase a lot of people feel like their paychecks are shrinking even when they really arent.

I just found this article interesting because I can't remember a time when the economy was doing this poorly in my lifetime. Now obviously I am young and don't know that much about Economics but I think it is a cause for at least a little concern among American Citizens.

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