Unemployment Sounds Warning About Economy – New York Times

Unemployment Sounds Warning About Economy – New York Times
The unemployment rate surged to 5 percent in December as the economy added a meager 18,000 jobs, the smallest monthly increase in four years, the Labor Department reported on Friday.

Economists viewed the report as the most powerful indication to date that the United States could well be falling into a recessionary downturn. Evidence of widening unemployment heightened anticipation that the Federal Reserve would further cut interest rates this month, perhaps by an unusually large half a percentage point, in a bid to prevent the economy from sliding into the muck.

“This is unambiguously negative,” said Mark Zandi, chief economist at Moody’s Economy.com. “The economy is on the edge of recession, if we’re not already engulfed in one.”

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2 responses to “Unemployment Sounds Warning About Economy – New York Times

  1. Jay Hakes was on CSpan today promoting his book.Throughout all of his spiel about energy independence, not a word was mentioned about the Taxpayer funded research of Prof. Ruggero Santilli (http://www.i-b-r.org/) or his discovery of an alternative energy source as a result of that research, authorized by the Carter Administration. The technology is currently being utilized in Italy, Cyprus and Sweden. Why not here, since we paid for i?

  2. The one question I’d like for Hakes to provide an answer to is : Why are Hydronic Reactors being ignored by him and all of the administrations since Carter’s?

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