They must be so proud that their presumptive nominee knows very little about theeconomy.
The U.S. lost jobs for a third month in March and manufacturing contracted at the fastest pace in five years, signs the economy continues to turn down, economists said before reports this week.
Payrolls probably shrank by 50,000, according to the median estimate of economists surveyed by Bloomberg News before the Labor Department’s April 4 report. The last time the economy lost jobs for at least three consecutive months coincided with the start of the Iraq War in 2003.
“The economy has slipped into a recession,” said Ethan Harris, chief U.S. economist at Lehman Brothers Holdings Inc. in New York. “We expect the labor market to weaken, with payrolls falling steadily through the middle of next year.”
3 thoughts on “Tremendous News For Republikkkans”
The economy hasn’t “slipped” into recession. It has barged in through the door like a drunken Frat boy yelling “Heeere’s Johnny!” while flipping everyone in the room the bird with both hands. Of course since he’s been making repeated phone calls telling us all that he’d be right over for the last year and a half it wasn’t that big of a surprise.
Good thing McCain is got a plan to save the day. Gee, bleeding money out of all orifices for years, constantly missing job creation targets, and now bailing out an entire industry built on fraud and lies, you say? Yes, a “wait and see” approach will be just the thing there, sport.
well, lemming have to land? um…splat.
Nothing but bad news and stocks go up, go figure.
The race to the bottom continues.
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