The U.S. unemployment rate skyrocketed to 8.5 percent in March, and there is every reason to expect that it will soon be above 10 percent. Given how bad things are, it will probably break the postwar record of 10.8 percent, set in late 1982.
Even if we don’t challenge that record, this recession is already worse than its 1980s counterpart. Back then, unemployment had been quite high for many years before it spiked. The unemployment rate in late 1982 was just 2.3 percentage points higher than it had been a year earlier.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
