Is the American economy heading toward a recession? ABC World News business correspondent Betsy Stark talks about the disappointing report that the nation only added 18,000 jobs last month.
Bill Blakemore: Betsy, is 18,000 far off the mark of what is considered healthy?
Betsy Stark: Oh, it's way off the mark of what's considered healthy. You need about 100,000 jobs to just absorb all the new people who come into the job market every month looking for work. So this really is a bleak number. And the other thing that happened was there was a 3/10th of a percent jump in the unemployment rate to 5%. So put those two things together and it's really flashing recession.
Housing slump, credit crunch, pricey oil - I'd be surprised if we're not going into a recession ...
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