Is the current rate of species loss 10 times the typical rate of extinction?

The natural rate of extinction as assumed by science is about 5 species per year. Currently scientists estimate we are losing species at 1000-10000 times that rate, with multiple species disappearing every day. A note on this idea is that the average extinction rate gives an unrealistic depiction of nature when we consider the catastrophic extinction events that ended the dinosaurs and shaped the ice age.