Headlining on Friday were articles from the WSJ, the NY Times, and the Washington Post on the report from the Labor Department showing that unemployment was the highest it has been since 1983. This “report underscores fears that, even as some sectors of the economy have stabilized and stock markets have rallied, the prospects for workers remain bleak” according to the WaPo. Unfortunately, the article also states that “[e]conomists have forecast that unemployment will rise through the end of the year, when layoffs tend to increase anyway, and some say that the surge of unemployment will extend well into 2010.” Bad news bears.
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