Nation’s Highest Unemployment Rate Since 1983
The Commerce Department reported total construction spending fell 0.9%
in February. It was the fifth consecutive monthly decline but much
less than the 1.8% decrease economists had anticipated.
On Friday, the Labor Department reported that the nation’s unemployment
rate increased to 8.5% in March from 8.1% in February. Businesses cut
663,000 jobs in March. This is the nation’s highest unemployment rate
since November of 1983.
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