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WEDNESDAY, NOVEMBER 25, 2009
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7

Unemployment Leaps to 8.1%

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(Newser) – Unemployment hit 8.1% in February, its highest level since late 1983, as employers cut 651,000 jobs, the government said today. That’s worse than the 7.9% analysts predicted, thanks to revised numbers from January and December that were much worse than originally reported. December’s revised loss of 681,000 jobs makes it the worst month since October 1949, the Wall Street Journal reports.

A total of almost 4.4 million jobs have been lost since the recession began, and many analysts expect the vicious cycle to continue. “There is not a single sign that points to a bottom yet,” one economist told Bloomberg. “It is the worst recession in the post-war era.”

Job seekers join a line of hundreds of people at a job fair sponsored by Monster.com on Thursday, March 5, 2009 in New York.
Job seekers join a line of hundreds of people at a job fair sponsored by Monster.com on Thursday, March 5, 2009 in New York.   (AP Photo/Mark Lennihan)
Job seekers attend the National Career Fairs job fair in Anaheim, Calif., Wednesday, March 4, 2009.
Job seekers attend the National Career Fairs job fair in Anaheim, Calif., Wednesday, March 4, 2009.   (AP Photo/Damian Dovarganes)
Job seekers line up for assistance at an Economic Development Department office in Sunnyvale, Calif., Friday, Feb. 27, 2009.
Job seekers line up for assistance at an Economic Development Department office in Sunnyvale, Calif., Friday, Feb. 27, 2009.   (AP Photo/Marcio Jose Sanchez)
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7 comments
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Thinker
Mar 6, 09 8:51 AM CST
Thanks, Bush. And Republicans. And Democrats. And Capitalism. Have we learned any lessons yet? Reply
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IN RESPONSE:
PaleRider
Mar 6, 09 10:18 AM CST
Your anger is misdirected. At no point during the Bush Admin was the unemployment anywhere close to 8%. This is "The Bama's" bag pure and simple.
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IN RESPONSE:
Doctor_Zaius
Mar 6, 09 4:49 PM CST
Hey pole rider. Based upon the 9/11 was Clinton's fault fallacy of the reich wing, shouldn't everything that happens that is bad be Bush's fault until 09/11/09? Or does it only work that way with Republican presidents. Let me guess, everything that went wrong up to 2004 was Clinton's fault and everything after was Obama's fault? Right?
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IN RESPONSE:
PaleRider
Mar 6, 09 11:12 PM CST
Every post you make you make less sense, Clinton is responsible for his own actions while in office. You are following the Democratic talking points like a machine, like they would want you to. How does it feel to have lost your ability to think for yourself.
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ezrider
Mar 6, 09 8:52 PM CST
PaleRider get real this economy was in the tank long before Pres. Obama took office.Just one more make believe. Reply
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