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Article: Job losses deepen in U.S.
- Article from:
- Whittier Daily News
- Article date:
- March 6, 2009
- Author:
CopyrightCopyright 2009 Whittier Daily News. Provided by ProQuest LLC. (Hide copyright information)
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A day after officials released staggering January jobless figures
throughout the San Gabriel Valley, new numbers from the Labor
Department on Friday revealed the nation's unemployment crisis is
worsening.
Cost-cutting employers slashed another 651,000 jobs in February,
a move that pushed the U.S. unemployment rate to 8.5 percent - its
highest reading since 1983.
"This will continue and unemployment will go over 10 percent,"
said Jim Randall, president and owner of Allfast Fastening Systems
Inc. in Industry. "You haven't seen nothin' yet."
Randall's company makes the rivets that hold most commercial and
military planes together. He has already laid off about 30
employees, roughly 10 ...