Unemployment hits the roof
August 7, 2008
If you guys and girls think that this will not affect an advertising agency, then you have another thing coming.
New applications filed for unemployment benefits rose last week by a seasonally adjusted 7,000 to 455,000, the department said in its weekly report. That was the most since late March 2002, when the job market was struggling mightily to get back on its feet after the 2001 recession. ( Full Story )
Some other background on this you might find helpful.
This is mostly stagflation driven… very familiar for many who were old enough to remember the 1970’s… and very scary… you have a credit crunch, a housing bust, high gas prices, high food prices, and recent record unemployment.
This is going to be ugly… really ugly.
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