Year-Long Recession Took Its Toll in 2008, With the Most Layoffs Since WWII
Starbucks. Circuit City. American Airlines. The list goes on and on.
Every day it seems another massive layoff is announced at some of the country's best-known companies. Those job losses, in addition to thousands of mom-and-pop businesses, made 2008 one of the worst years for employment in our country's history.
This morning the Department of Labor announced that in December alone, employers shed 524,000 workers. Unemployment now stands at 7.2 percent, the highest since January 1993.
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