No End in Sight to Job Losses; 663,000 More Cut in March. “It’s really just about as bad as can be imagined,”

The American economy surrendered 663,000 more jobs in March as the unemployment rate surged to 8.5 percent, its highest level since 1983, the government reported Friday.

The severity and breadth of the job losses — which afflicted nearly every industry outside of education and health care — prompted economists to conclude that an agonizing plunge in employment prospects was still unfolding, with no clear turnaround in sight.

Source: www.nytimes.com