Unemployment is expected to reach 300,000 by the end of this year, and could climb higher.
The economy contracted by 11%, and unemployment climbed to 21%.
As unemployment climbed last year, the number of jobs being eliminated fell below the level in the late 1990's.
And inflation would keep rising further until unemployment climbed back to or above its natural rate.
Unemployment has climbed to 11.7 percent, or 3.2 million people, up more than 10 percent over the last year.
By the end of Bush's presidency, unemployment climbed to 7.2%.
Between 1969 and 1977, the city lost more than 600,000 jobs and unemployment climbed to 11.2 percent.
Suppose, for example, that inflation rose above current levels while unemployment climbed toward 7 percent.
Yes, unemployment, which had been at a 31-year low of 3.9 percent, has been climbing since late last year.
Unemployment climbed steadily this year, reaching 15.2 percent of the work force, or 2.8 million people, in August.