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Layoffs soar as US plunges deeper into recession
by wsws (reposted)
Thursday, December 4, 2008 :New economic reports show that the severity of the US recession and the speed with which it is developing are greater than anticipated by economists and business forecasters. Data released Wednesday reveal a sharp rise in layoffs in virtually every sector of the economy, continuing distress in credit markets, financial instability and slumping consumer demand.

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