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Triangle unemployment rate increases – Business – News & Observer

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Triangle unemployment rate increases – Business – News & Observer.

The Triangle is home to a large concentration of traditionally stable industries: health care, education and government. But job cuts now are hurting workers in those sectors.

Wachovia economist Mark Vitner expects the state and local jobless rate to pass 9 percent before any type of recovery.

“This is a wicked recession,” Vitner said. “And it’s gotten whole lot worse.”

alan.wolf@newsobserver.com or 919-829-4572
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Written by Krista Summitt

January 6, 2009 at 2:44 pm