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Unemployment Hits 5-Year High of 6.1 Percent In AugustThe Associated Press
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September 5, 2008
THE LATEST: The nation's unemployment rate zoomed to a five-year high of 6.1 percent August and employers slashed jobs for the eighth month in a row.
WHAT IT MEANS: With jobs harder to find, there's growing fears that consumers will pull back on their spending, throwing the economy into a tailspin later this year.
THE OUTLOOK: The unemployment rate will keep rising, possibly hitting 7 percent next year.
http://www.startribune.com/business/27933264.html?elr=KArks:DCiU1OiP:DiiUiD3aPc:_Yyc:aUU
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