Economy: In Double Trouble

In Double Trouble

The economic rebound that experts see unfolding this year no longer seems so certain. Two traditionally conflicting forces are conspiring to delay, perhaps sabotage, the now desperately sought recovery. Last week the Labor Department admitted that it had grossly undercounted the number of jobs lost in 1991. Initial estimates were that 782,000 payroll positions disappeared last year; now officials say the final tally may be almost double that, or 1.43 million. And the poor job outlook is spilling into the new year. The government said last week the unemployment rate remained stuck at a five-year high of 7.1% in January. Especially...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!