Thursday, January 8, 2009

Severity of Recession

Just wanted to highlight this line:
The number of people continuing to claim jobless benefits jumped unexpectedly by 101,000 to 4.61 million. That was above analysts' expectations of 4.5 million and the highest level since November, 1982, when the nation was emerging from a steep recession, though the labour force has grown by about half since then.

A lot of people have been pegging this as the worst downturn since the 30's, but I'd say it still has a ways to go. No predictions on whether it will go there or not, though.

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