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Is the United States Economy Heading Into a Recession?

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 ...

Link | ABC World News Webcast homepage

Do you think we're heading into a recession? and why?

[poll=3]

Based on the media hammering it into us, it probably seemed inevitable...but we're still waiting and waiting and waiting for it to happen...nothing yet.
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During the 2000 Presidential campaign, anytime Bush mentioned that the economy was slowing he was accused (by democrats and the Media) of "Talking Down the Economy". So, talking down the economy is NOW a good thing to do?
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The unemployment rate is so high because so many younger Americans entering the work place are un-educated highschool drop outs with out proper skills. These deadbeats are going to take us all down, if it's any single group of peoples fault.

Then there's the under trained older generation that is just simply out of touch with current technology, but they'll all be out of the picture in the next 10 years, so you can't soley blame it on them.
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Say hi to the north american union and the amero which are going to be shoved down our througths more and more we are being inslaved
do urself a favor and go watch Endgame at google for free!!!

U have been warned..ha ha ha
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A 5% unemployment rate ISN'T high.

However, this doesn't mean that the housing slump, credit crunch, and pricey oil aren't taking a toll. The sudden .3% jump is worrisome.
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Wow! This is so convincing!

I mean, there is nothing at all like a completely non-scientific poll of mostly left of center Americans (and a fair share of foreigners) to tell me that we are going to enter a recession.

@neat police: I beg to differ, it is neat to see how much recession rhetoric people are buying into.
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I was pretty sure that one major factor in determining an economic recession was the value of currency. If that is true, then we have been in recession since approximatly september 12, 2001. Whose fault? consumers and the fed. and IMF and NAFTA. and so on.... basicly, your fault and my fault too!
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Well, I personally love having my dollar worth less than the Canadian one. Not to mention the brilliant idea of printing more money to make up for the fact that we have no money. That always helps, historically.
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Yes, we are headed towards a recession.

Yes, we will also be okay.

It's all a part of the business cycle. It's happened many times before, and will undoubtedly happen again.
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We may well be headed to a recession but yes as someone stated they are normal. I do love a previous post where Acris stated they had seen it coming for a few years. That is too funny. I see the mental giants are out and about.
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It won't be a recession - if anything, we're headed for a CRASH.

That's what none of them really want to admit.

That's why they have to keep lowering the dollar, in hopes that people around the globe would buy more American.

But then that oil price hurts. It makes everything in America that much more expensive for Americans. It may be cheaper to buy the dollar for strong foreign currencies, but man, let's just take a look at the big picture.

We'd be lucky if we can get past this without a major slump.

I hope we can get past this lull without a major drop.
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---------Jim Says:
I do love a previous post where Acris stated they had seen it coming for a few years. That is too funny. I see the mental giants are out and about.----------

Hahaha....that's exactly what I was thinking too. If we end up in recession 5 years from now, do I get points if I say "I've seen it coming for the past several years!!"

Recession is two or more consecutive quarters of negative growth. There's no indication that this will happen this year, though there are a few (just a few) warning signs. 5% unemployment is still extraordinarily low. All this speculation does no one any good. And those who make laughable statements that we are headed for a crash obviously have absolutely no knowledge of economics or history. We didn't even have a crash as a result of Sept. 11 (though the markets were hit pretty hard).
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@booyah: "All this speculation does no one any good. And those who make laughable statements that we are headed for a crash obviously have absolutely no knowledge of economics or history."

This feels different to me. Talking to a number of small business owners, they're ALL telling me that sales have been dismal and that a significant recession is coming.
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This never ceases to amaze me. Firstly, to know what the real numbers are, you have to wait for the adjusted numbers, which are the refined data. That's a more realistic picture.

Of course, when Clinton was President, an unemployment rate of 5.6% was reason for ecstasy. Unemployment rising to 5.2% from 5.0% under Bush is a harbinger of doom. By any measure used to judge the Clinton economy, the Bush economy is booming, but you'd never know it from the media and most commenters.
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