Unemployment rate highest since 1983

Justin Moriarty

I recently came across this article explaining the continuing increase in job loss. According to the article, the nation's unemployment rate jumped to 8.5 percent in March as employers eliminated 663,000 jobs. This is the highest unemployment rate in my lifetime and everyday there are more and more reports of companies eliminating jobs and cutting back on working hours.

This article is very concerning as my peers and I are looking to get hired in just a short while. It also doesn't put my mind at ease when economists are predicting the job market may not get back to normal (meaning a 5 percent unemployment rate) until the year 2013. I have been fortunate not to be one of the millions of Americans hit the hardest by this and can only hope for the global economy to pan out soon.