The endless slump goes on
Signs of the deep American recession continued to mount last week. The Labor Department reported that unemployment rose in March to 9%, the worst level in seven years and equal to the highest rate since the Great Depression. Perhaps the hardest hit of all industries is housing. Other Government figures released last week showed that in February, sales of new single-family houses dropped by 11.8% to the second lowest monthly rate in almost two decades. Says Realtor Marie Tighue of Trenton, N.J.: "It's a day-to-day battle to make sales." She recalls the bargaining for one house: "It...
To continue reading:
or
Log-In
