Unemployment: Could We Be Facing Another Depression?
By Kristina Cowan on January 05, 2009
Each week delivers more grim news about some part of the economy, including job cuts and climbing unemployment. All the gloom-and-doom has some recalling unemployment during the Great Depression. At this point the U.S. unemployment rate is 6.7 percent, according to the Bureau of Labor Statistics; peak unemployment during the Great Depression was 25 percent. Are we inching toward a similarly unsavory fate?
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