Friday, April 04, 2008

Surging Unemployment?...


As evidence of recession, this is AP's idea of "surging" unemployment...

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.

4.8 to 5.1%! A three tenths of a percent increase is an unemployment surge according to AP Economics Writer, Jeannine Aversa. Considering that 5% is considered statistically to be full employment, once again one might question the objectivity of AP reporting.

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