Jobless Rate Falls To 5%

May 2, 2008 · Filed Under Economy

For the fourth month in a row, the economy lost jobs, the Labor Department reported Friday. But in April the losses totaled 20,000, an improvement from the 81,000 reductions in payrolls logged in March. Job losses for both February and March turned out to be a bit deeper than previously reported.

The latest snapshot of the nationwide employment conditions—while clearly still weak—was better than many economists were anticipating. They were bracing for job cuts of 75,000 and for the unemployment rate to climb to 5.2 percent.

I find it amusing that liberals are actually able to scare people with their rhetoric concerning the economy. Are times a little tough? Sure they are, but the left would have us believe that 3/4 of the American people destitute, and living under a bridge.

Unemployment in the U.S. now stands at 5% which means that 95% of Americans have a job. Let me repeat that, only 5% of Americans are without work.

Even in 2006, when unemployment was at 4.2%, President Bush’s approval rating on the economy was only at 40%. The reason for that is the left-wing media’s constant drumbeat almost for the entire Bush presidency that the economy was teetering on the brink, which was total nonsense.