SLUGGISH LABOR MARKETS AND INFLATION FEARS
June 17, 2008
June 17, 2008
WASHINGTON, June 17 -- The House-Senate Joint Economic Committee issued the following news release:
The unemployment rate jumped to 5.5% in May, from 5.0% in April, and payroll employment declined for the fifth consecutive month, raising concerns that the economy has slipped into a recession. However, despite a significant drag from continued adjustments in housing markets, growth in the inflation-adjusted (real) gross domestic product (GDP) was 0.9% in the 1st quarter, up from 0. . . .
The unemployment rate jumped to 5.5% in May, from 5.0% in April, and payroll employment declined for the fifth consecutive month, raising concerns that the economy has slipped into a recession. However, despite a significant drag from continued adjustments in housing markets, growth in the inflation-adjusted (real) gross domestic product (GDP) was 0.9% in the 1st quarter, up from 0. . . .