State of Business: Unemployment & Confidence

Still on an ominous rise, unemployment in the U.S. reached the highest December total in 20 years last month. While there is always some increase in the figure during the year's last month, the 1960 rise was three times as big as the normal seasonal change. The result, the U.S. Labor Department reported last week, raised the unemployment total by half a million to 4,450,000 or 6.8% of the U.S. labor force, highest since 1940. The figures were made even more sobering "by the fact that employment, which has held up well in recent months, declined by 1,173,000 to a...

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