From Austin Business Journal, April 8, 2009...
U.S. unemployment could surpass 10 percent by year’s end, Richard W. Fisher, president and CEO of the Federal Reserve Bank of Dallas, said Wednesday before the Japan Center for Economic Research in Tokyo, Japan.
Fisher said there are 13.2 million people without jobs, and the nation is grappling with an 8.5 percent unemployment rate.
While the housing market has compounded the problem, he attributes declines in employment to a crisis in confidence that is driving business leaders to cut heavily.
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