The number of newly-laid off workers jumped unexpectedly to 471,000 last week, PNC Financial chief economist Stuart Hoffman says the data point to continued layoffs and weak job creation in the United States.
VOA: standard.2010.05.20
Many of the laid-off workers had taken out loans for their children's college tuition, but they found it impossible to pay back the loans immediately.
"The growing army of laid-off workers demands an expansion of the private economy, " says Zhong Pengrong, director of the Beijing Prospect Consultancy, an advocate of private enterprise.