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.

Read more…

 

Permalink • Print • Comment

Trackback uri

http://brokerwatchdog.com/2008/01/04/jobless-rates-hits-5-percent/trackback/

Related Entries

Related Tags

, , , ,

Leave a comment

You must be logged in to post a comment.