This fall a number of economists began predicting that unemployment would rise to 8% during this recession, up from a reading of 6.5% in October. It would be the highest jobless rate in years. But put into historical perspective, that forecast isn't too bad. A quarter of all adults were out of work during the Great Depression. More recently, unemployment reached 7.8% in the early 1990s, and climbed all the way to 11% in the beginning of the 1980s.
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Thursday, 27 November 2008
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