08 March 2009

Unemployment at 8.1%

Hold on to those jobs if you got 'em.

The unemployment rate has surged to 8.1 percent, from 7.6 percent in January making it the highest it has been since 1983. 651,000 Jobs were lost in February In key industries — manufacturing, financial services and retail — layoffs have accelerated so quickly in recent months as to suggest that many companies are abandoning whole areas of business.

Read More on The New York Time's Website: nytimes.com/business

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