Unemployment rate at highest level since September 1992. 2.6 million have been out of work for more than six months, the most long-term unemployed since 1983. Manufacturing, construction, construction and business and professional services all slashed jobs. Obama has imposed $500,000 caps on senior executive pay for most distressed financial institutions receiving federal investment money. Congressional Oversight Panel says the federal government overpaid for stocks and other assets when aiding financial institutions last year during the government bank bailout. Treasury Secretary Timothy Geithner will put the Obama administration’s plans on the remaining money in the bailout plan next week.”]
Source: https://www.bankinfosecurity.com/unemployment-at-34-year-high-a-1199