Description

The national economic collapse has hit the labor market hard over the last few months. While revised figures will not be out until the end of next week, it has become quite clear that 2008 will be one of the worst years for the labor market in quite some time. The fourth quarter turned out to be the worst quarter for job losses (more than 1.5 million) across the nation since the aftermath of World War II. As a result of the massive job losses and continued gains in population the unemployment rate has soared nationwide, up 2.3 percentage points from the end of 2007.