The Long Gray Line

Recession pushes unemployment to a post-World War II high of 9.4%

In August 1941, Ted Williams of the Boston Red Sox was on his way to batting .406. A pair of businessman's Florsheim shoes cost $9.50. The New York Telephone Co. reported that for the first time in ten years more phones were installed than disconnected. The Works Progress Administration, which only that year had begun making efficient monthly counts of the number of jobless in the U.S., announced that the unemployment rate for August was 9.7%.

Last week the unemployment rate reached the highest...

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