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Politics : Formerly About Advanced Micro Devices
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To: tejek who wrote (457550)2/18/2009 4:44:53 PM
From: TopCat   of 1577399
 
Moonbeam....from your own link if you had just read further.

Economic effects of the recession
The Federal Reserve's extremely tight monetary policy intentionally plunged the American economy into a deep recession.[9]

Employment conditions deteriorated throughout the year. The unemployment rate in the U.S. reached 10.8% in December 1982—higher than at any time in post-war era. Job cutbacks were particularly severe in housing, steel and automobiles. By September 1982, the jobless rate reached 10.8%. Twelve million people were unemployed, an increase of 4.2 million people since July 1981.[5] Unemployment rates for every major group reached post-war highs, with men age 20 and over particularly hard hit. Blacks and Hispanics suffered proportionally greater job losses than whites.[7]
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