pogromca-polonii
04.04.08, 16:14
Hawaja, czy to optymistyczne zjawisko ?
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.
The new snapshot of the job market, released by the Labor
Department Friday, underscored the damage that a trio of crises _in
the housing, credit and financial sectors — has inflicted on
companies, jobseekers and the economy as a whole.
"The labor market has indeed turned south," said Joel Naroff,
president of Naroff Economic Advisors. "That was the one last
bastion of hope to stay out of a recession. Now the question is how
deep and how long will it last?"
The unemployment rate was the highest since September 2005, when
significant job losses followed the devastating blows of Gulf Coast
hurricanes.
Job losses were widespread in March. Construction, manufacturing,
retailing, financial services and various business services all
racked up losses. That overwhelmed gains elsewhere, including in
education and health care, leisure and hospitality as well as in
government.
The new employment figures were much weaker than economists were
expecting. They were anticipating a drop of 50,000 payroll jobs and
the unemployment rate to rise to 5 percent.
The 5.1 percent rate is relatively modest by historical standards,
but was nonetheless the highest in 2 1/2 years.
Job cuts in both January and February turned out to be even deeper.
Employers got rid of 76,000 in each month. The elimination of
80,000 jobs in March was the most since March 2003, when the labor
market was still struggling to recover from the 2001 recession.
The economy is suffering the effects of a housing collapse, a
credit crunch and a financial system in turmoil. That's causing
people and businesses to hunker down, crimping spending, capital
investment and hiring. Those things in turn further weaken the
economy in what has become a vicious cycle.
For the first time, Federal Reserve Chairman Ben Bernanke
acknowledged Wednesday that the country could be heading toward a
recession, saying federal policymakers are "fighting against the
wind" in combating it. Many other economists and the public believe
the recession already has arrived.
Bernanke wouldn't tip his hand about the Fed's next move. However,
many economists believe the central bank will lower interest rates
again when they meet later this month.
