Word: joblessly
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...starts were down 13%. Sales of existing homes were off 7%, according to the National Association of Realtors. The Labor Department reported Friday that unemployment surged to 6.5% in February, up from 6.2% a month earlier, in the biggest one-month increase in four years. Most economists expect the jobless rate to approach 7% in the next six months before falling...
...clerks and bankers, have lost their jobs in the most serious burst of unemployment since the 1982 recession. During January alone, as business braced against the harrowing uncertainties of a recession overlaid with war, 232,000 people lost their jobs. The government reported last week that January's jobless rate rose to 6.2%, up from 6.1% the previous month and 5.3% in June. All told, 7.7 million Americans were unemployed in January. % "The job loss last month was immense," says Allen Sinai, chief economist for the Boston Co. Economic Advisors. "The findings really blow out of the sky any notion...
...million people used up all six months' worth of unemployment benefits last year, a 16% increase from a year earlier. Worse still, a study released in December by Mathematica Policy Research, a consulting firm, found that 60% of unemployed workers were in the desperate position of still being jobless 10 weeks after their benefits expired...
...several past recessions, Congress and the states responded to widespread joblessness by allocating extra money to unemployment trusts so they could extend worker benefits for a few additional months. But during the past few years the Federal Government and the states have tightened eligibility for such benefits. Only Alaska and Rhode Island are currently expanding the assistance. And with everything from the gulf war to the savings and loan bailout competing for scarce federal funds, Congress is not eager to press such a move. For the moment, once they exhaust the standard benefits period, the jobless are on their...
...fastest route to default is unemployment, which is on the rise. The U.S. jobless rate has increased from 5.2% in June to 5.7% in October; in those five months the country has lost 336,000 jobs. One of the causes has been corporate debt, which has forced many companies to take drastic cost-cutting steps. While it may be beneficial for U.S. consumers to prepare for hard times by saving more and spending prudently, an overreaction would be dangerous, since consumer spending accounts for roughly two-thirds of the U.S. gross national product...