Saturday, January 24, 2009

Missouri jobless rate reaches 25-year high

JEFFERSON CITY, Mo. -- Missouri's unemployment rate hit its highest mark in 25 years, increasing by more than half a point to 7.3 percent in December. Jobless numbers released Friday by the state Department of Economic Development show that 2008 was a difficult year for workers. The state lost 26,500 jobs during the year, which includes 9,500 in transportation manufacturing and 4,700 in financial activities. December's unemployment rate is Missouri's highest mark since April 1984.

Freddie Mac to ask for billions more

McLEAN, Va. -- Mortgage finance company Freddie Mac said Friday it will need an additional $30 billion to $35 billion in government aid as it copes with losses on loans the company backed during the U.S. housing bubble. The company disclosed late Friday that it expects its government regulator, the Federal Housing Finance Agency, to make the request from the Treasury Department. It comes on top of the $13.8 billion the company received last year.

-- From wire reports

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