Unemployment Rate Hits Highest Level Since 1983

Despite better-than-expected reports on everything from housing to manufacturing this week, recession-wary U.S. companies are still shedding hundreds of thousands of jobs. The government reported that the nation's employers cut 663,000 workers in March, pushing the unemployment rate up to 8.5 percent, the highest in nearly 26 years. Since the recession began in December, 2007, 5.1 million jobs have been lost, with almost two-thirds of the decrease -- 3.3 million job cuts -- occurring in the...Full Story
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