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Job Losses

Job cuts at major companies have contributed to the rise in the unemployment rate, which was 7.2 percent in December - still below the 1982 high, when the country suffered the effect of high interest rates imposed to combat inflation.

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Layoffs Cut Deeper Into Economy
Article | The nation's employers, including some of its largest and most sturdy, announced plans yesterday to slash more than 55,000 jobs, a staggering one-day toll that highlighted how quickly layoffs are accelerating and how widely misery is spreading throughout the labor market.

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