According to the Labor Department, the U.S. unemployment rate is estimated to be at its highest in more than 16 years. This news came after almost 600,000 jobs were lost in January alone. A total of 3.6 million jobs have been terminated since the nation started its downward economic spiral back in December 2007.
Canada’s unemployment rate is also on the rise.
Despite all the pending economic stimulus activity, analysts maintain that the real concern should be the decreased demand for products and services, not decreased cash flow.
Sources:
The New York Times: Economy Shed 598,000 Jobs In January
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