January 4, 2008
Jobless Rate Hits 5 Percent
WASHINGTON (AP) — Hiring practically stalled in December, driving the nation’s unemployment rate up to 5 percent, a two-year high. The new figures fan fears the economy could slide into a recession.
Last month, employers added the fewest new jobs to their payrolls in more than four years, said the jobs report released Friday by the Labor Department. The report also showed that employment conditions are deteriorating, strained by a housing slump and credit crunch that are sapping economic strength.







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