We’re Shrinking
Feb 1st, 2008 at 9:54 am by Susie
Told ya! Having a Harvard MBA in charge of the country was a very bad idea:
Feb. 1 (Bloomberg) — The U.S. economy unexpectedly lost jobs in January for the first time in more than four years.
Payrolls fell by 17,000 after an 82,000 gain in December that was larger than initially reported, the Labor Department said today in Washington. The jobless rate declined to 4.9 percent from 5 percent in December.
[...] “The labor market is very close to the edge here and it would not take much to push the economy over the cliff,” Chris Rupkey, senior financial economist at Bank of Tokyo-Mitsubishi UFJ Ltd. in New York, said before the report. “More and more companies are reporting layoffs. Now we are seeing that the economy is, indeed, perhaps just inches away from a recession.”
How about, we’re already over the cliff and in free fall?
