Economy shows resilience; jobless rate falls as dollar rises

[actsnoblemartin]

http://news.yahoo.com/s/ap/20080502/ap_on_bi_go_ec_fi/economy;_ylt=Av68DPcT2vLNXRuB.NUMMfSs0NUE

By JEANNINE AVERSA, AP Economics Writer 1 hour, 16 minutes ago

WASHINGTON - The economy showed off unexpected signs of resilience Friday as job losses slowed, the dollar gained a bit of muscle for a change and there were even indications that food prices may be easing. The unemployment rate dipped, though that may not last.

The latest barometers flashed encouraging signs that the economic slowdown may not be as pronounced as some had feared. Still, there's much caution — about housing, credit and other problems.

"Economic or financial conditions could take an unexpected stumble at any time," warned Stephen Stanley, chief economist at RBS Greenwich Capital.

Employers eliminated 20,000 jobs in April — not nearly as many as the 81,000 in March, and the fewest monthly losses so far this year, the Labor Department reported. The unemployment rate dropped to 5 percent, from 5.1 percent.

Employers cut payrolls less than expected
U.S. jobs fell by 20,000 in April, unemployment rate dips to 5 percent

http://www.msnbc.msn.com/id/24425026

[April15]

This is good news even though residential construction in my area is still at a stand still. I hope to have some work by years end! As do many of the other contractors I know and work with.

[manu1959]

This is good news even though residential construction in my area is still at a stand still. I hope to have some work by years end! As do many of the other contractors I know and work with.

webcor and bovis are still building in downtown sf and hanover is getting ready to break ground on 150 units near candelstick park.....

[April15]

webcor and bovis are still building in downtown sf and hanover is getting ready to break ground on 150 units near candelstick park.....
Yes the commercial arena has not slowed much if at all. San Francisco has not had any real slowdown is home sales or foreclosures. Atherton and los Altos are doing well but the network of contractors that cater to the high end are not easy to break into.
Public works projects are booming too.

[red states rule]

It is so funny to see the reactionmof the left, the liberal media, and the Bush haters as they have to read how the US is NOT in a recession

Malls are filled, roads are still jammed with cars (despite high gas prices) people are still eating out (the lines are still long to get in) and I have seen the various sports complexes where the playoff games are being held are filled to the rafters

Yes, the doom and gloomers have blown it once again

[DragonStryk72]

It is so funny to see the reactionmof the left, the liberal media, and the Bush haters as they have to read how the US is NOT in a recession

Malls are filled, roads are still jammed with cars (despite high gas prices) people are still eating out (the lines are still long to get in) and I have seen the various sports complexes where the playoff games are being held are filled to the rafters

Yes, the doom and gloomers have blown it once again

Um, dude, we are in a recession, just not as bad of one as forecasted. i'm sorry, but either the economy is expanding or it is receding. Well, we just lost 20,000 more jobs.

However, we are not in a recession because of Bush or any other politician. Instead, it is the instant gratification crowd being given credit that they have no way of paying back, along with the banks themselves, who have been doling out these loans and "rewards" card programs left and right, handing them off to anyone at all, despite their poor credit history. I know people who've just gotten a bankruptcy, only to turn around and get brand new credit cards, and it make my head hurt.

It was always going to come back and bite us, and it's done that quite well. It was buying on margin that cause the stock market crash in 1929, and it is the loan/credit system of handing out loans to irresponsible people that has led this the housing market crash. Hopefully, business learns from, as well as the people.

[red states rule]

Um, dude, we are in a recession, just not as bad of one as forecasted. i'm sorry, but either the economy is expanding or it is receding. Well, we just lost 20,000 more jobs.

However, we are not in a recession because of Bush or any other politician. Instead, it is the instant gratification crowd being given credit that they have no way of paying back, along with the banks themselves, who have been doling out these loans and "rewards" card programs left and right, handing them off to anyone at all, despite their poor credit history. I know people who've just gotten a bankruptcy, only to turn around and get brand new credit cards, and it make my head hurt.

It was always going to come back and bite us, and it's done that quite well. It was buying on margin that cause the stock market crash in 1929, and it is the loan/credit system of handing out loans to irresponsible people that has led this the housing market crash. Hopefully, business learns from, as well as the people.

Can you tell me what 2 quarters we had neg growth? that is what a recession is

The unemployment dropped to 5%, the dollar is rising, the Dow is back over 13,000, and the left is still going with their doom and gllom bullshit

BTW, only 5% of h/o are late with their payments and foreclosures are only .05%

Not exactly a "crisis"

[DragonStryk72]

Can you tell me what 2 quarters we had neg growth? that is what a recession is

The unemployment dropped to 5%, the dollar is rising, the Dow is back over 13,000, and the left is still going with their doom and gllom bullshit

BTW, only 5% of h/o are late with their payments and foreclosures are only .05%

Not exactly a "crisis"

Um, lost 80,000 jobs in January, February, and March, now getting 20,000 this past month. Just because it's a recession, doesn't instantly mean it's the Great Depression all over again, which yes, the media and some forecaster are trying to play it as to make it sound worse than it really is. They seem to think that if they inflate the numbers, then it will alarm people into taking action, and instead, people are finding out that the numbers are inflated, and stop paying attention.

I also didn't specifically mean homeowners, people are buying all sorts of things they simply can't afford.

[red states rule]

Um, lost 80,000 jobs in January, February, and March, now getting 20,000 this past month. Just because it's a recession, doesn't instantly mean it's the Great Depression all over again, which yes, the media and some forecaster are trying to play it as to make it sound worse than it really is. They seem to think that if they inflate the numbers, then it will alarm people into taking action, and instead, people are finding out that the numbers are inflated, and stop paying attention.

I also didn't specifically mean homeowners, people are buying all sorts of things they simply can't afford.

DO you understand what a recession is? It is back to back quarters of negative growth

The US economy has not had negative growth in even one quearter

Despite all the bumps in the road, the US economy is going well.

[April15]

DO you understand what a recession is? It is back to back quarters of negative growth

The US economy has not had negative growth in even one quearter

Despite all the bumps in the road, the US economy is going well.Perhaps for you! But not all.

[red states rule]

Perhaps for you! But not all.

There will always be people who sit and whine about their own situation no matter how well the economy is doing nationwide

[April15]

There will always be people who sit and whine about their own situation no matter how well the economy is doing nationwideWhat a childish response.

[red states rule]

What a childish response.

It describes those who wait for the government to step in and take care of them. There are alot of them out there

They usually vote Democrat