March Jobs Report Confirms a Poor First Quarter for the American Economy in 2008
Publication Date: April 2008
Publisher(s): Heritage Foundation (Washington, D.C.)
Author(s): James Sherk
Keywords: Economy; economy; jobs; employment
Coverage: United States
The March jobs report shows a weakening economy. However, by historical standards the current job market remains strong. An unemployment rate of 5.1 percent is still lower than the average unemployment rate for the 1970's, 1980's and 1990's. The unemployment rate for previous recessions peaked at much higher level, even reaching double digits for severe economic downturns.