More than 3.8 million laid-off workers applied for unemployment benefits last week as the US economy slid further into a crisis that is becoming the most devastating since the 1930s.
With more employers cutting payrolls to save money, economists have forecast that the unemployment rate for April could go as high as 20 per cent. That would be the highest rate since it reached 25 per cent during the Great Depression. Figures from France and Italy showed both countries fell into recession, defined as two quarters of economic contraction.
Source: Entertainment Trends (entertainmenttrends.net)
Yet China's economy sitting pretty and largely unaffected.
When so many economies plunge into recession---- it's only a matter of time before you see the vultures out and create more chaos !
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