Friday, May 8, 2009
Fewer Job Losses a Good Sign
Well we learned that only 620,000 people lost their jobs last month, down from the 663,000 that lost jobs in March. Hopefully that number will continue to decrease, but it's still a large number. It remains that more people are losing jobs than are finding jobs. Although the mass layoffs seem to be over for the most part, unemployment will continue to rise because of this. Some analysts think we can hit 10% unemployment this year, and that full employment (5%) won't be back until 2013. Right now we just need to stop the unemployment bleeding as that is the root of our diminished consumer confidence and spending.