Jobless rates hits 5 percent, a 2-year high, fanning recession fears
By JEANNINE AVERSA South Florida Sun-Sentinel
January 4, 2008
WASHINGTON - Hiring practically stalled in December, driving the nation's unemployment rate up to a two-year high of 5 percent and fanning fears of a recession.
Employers last month added the fewest new jobs to their payrolls in more than four years, according to the employment report released Friday by the Labor Department. The report showed that employment conditions are deteriorating, strained by a housing slump and credit crunch that are sapping economic strength.
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