Unemployed worker waits for work at the Day Worker Center of Mountain View, in Mountain View, Calif. , Friday, Oct. 2, 2009. The unemployment rate rose to 9.8 percent in September, the highest since June 1983, as employers cut far more jobs than expected. The report shows that the worst recession since the 1930s is still inflicting widespread pain and underscores one of the biggest threats to the nascent economic recovery: that consumers, worried about job losses and stagnant wages, will restrain spending. Consumer spending accounts for about 70 percent of the nation's economy. AP Photo logo AP Photo 4 months ago

Unemployed worker waits for work at the Day Worker Center of Mountain View, in Mountain View, Calif. , Friday, Oct. 2, 2009. The unemployment rate rose to 9.8 percent in September, the highest since June 1983, as employers cut far more jobs than expected. The report shows that the worst recession since the 1930s is still inflicting widespread pain and underscores one of the biggest threats to the nascent economic recovery: that consumers, worried about job losses and stagnant wages, will restrain spending. Consumer spending accounts for about 70 percent of the nation's economy.

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  1. GLASGOW, UNITED KINGDOM - JANUARY 26: Members of the public carry shop in Buchanan Street on January 26, 2010 in Glasgow, Scotland. Experts declared that recent figures showed the economy grew by 0.1 per cent in the final quarter of last year. Economists expect the country to emerge from the worst recession since the Second World War with millions losing their jobs during the global credit crunch.
  2. GLASGOW, UNITED KINGDOM - JANUARY 26: A newspaper seller stands on Buchanan Street on January 26, 2010 in Glasgow, Scotland. Experts declared that recent figures showed the economy grew by 0.1 per cent in the final quarter of last year. Economists expect the country to emerge from the worst recession since the Second World War with millions losing their jobs during the global credit crunch.
  3. People walk in central London's Oxford Circus, Tuesday, Jan. 26, 2010. Britain's worst recession since World War II is over, official statistics confirmed Tuesday, but the economy remains in the recovery room after managing only feeble growth of 0.1 percent in the fourth quarter.
  4. Ford Motor Co. President and Chief Executive Officer Alan Mulally talks about Ford's progress in the economic recession, Tuesday, Jan. 26, 2010, during a news conference at the Washington Auto Show in Washington.
  5. FILE - In this Jan. 26, 2010 file photo, Ford Motor Co. President and Chief Executive Officer Alan Mulally talks about Ford's progress in the economic recession, during a news conference at the Washington Auto Show in Washington. Ford Motor Co. said Thursday, Jan. 28, it made $2.7 billion in 2009, its first annual profit in four years.
  6. Ford Motor Co. President and Chief Executive Officer Alan Mulally dons a cap bearing the Ford "blue oval" as he talks about Ford's progress during the economic recession, Tuesday, Jan. 26, 2010, during a news conference at the Washington Auto Show in Washington.
  7. Joe Grice, chief economist of Britain's Office for National Statistics, announces the GDP estimate for the fourth quarter of 2009, during a news conference in central London, Tuesday, Jan. 26, 2010. Britain's worst recession since World War II is over, official statistics confirmed Tuesday, but the economy remains in the recovery room after managing only feeble growth of 0.1 percent in the fourth quarter.
  8. Joe Grice, chief economist of Britain's Office for National Statistics, checks his watch as he waits for the exact time to announce the GDP estimate for the fourth quarter of 2009, during a news conference in central London, Tuesday, Jan. 26, 2010. Britain's worst recession since World War II is over, official statistics confirmed Tuesday, but the economy remains in the recovery room after managing only feeble growth of 0.1 percent in the fourth quarter.
  9. Japan's Finance Minister Naoto Kan speaks during the lower house budget committee at Parliament in Tokyo January 21, 2010. Kan said there was no need to compile an extra budget now for the fiscal year from April to prop up the economy, despite concern about the chances of a double-dip recession ahead of a mid-year election.
  10. A couple walk through a high end shopping street in down town Kiev, Ukraine, Saturday, Jan. 16, 2010. The first round of voting in Ukraine's presidential election is scheduled for January 17. After years of political paralysis and a severe economic recession, one recent poll showed a majority of voters are concerned the election could be rigged. Many Ukrainian voters seem to expect little from Sunday's presidential election.
  11. A customer is seen at a counter at the biggest food market in Kiev, Ukraine, Saturday, Jan. 16, 2010. The first round of voting in Ukraine's presidential election is scheduled for January 17.After years of political paralysis and a severe economic recession, one recent poll showed a majority of voters are concerned the election could be rigged. Many Ukrainian voters seem to expect little from Sunday's presidential election.
  12. A man works at an ironwork processing factory at a construction site at Keihin industrial zone in Kawasaki, south of Tokyo, January 14, 2010. Japan's core machinery orders tumbled to a record low in November, adding to government fears of a return to recession that could heighten the need for yet more fiscal stimulus spending.
  13. A worker stands on a crane which is parked at a construction site at Keihin industrial zone in Kawasaki, south of Tokyo, January 14, 2010. Japan's core machinery orders tumbled to a record low in November, adding to government fears of a return to recession that could heighten the need for yet more fiscal stimulus spending.
  14. With purchases in hand, shoppers walk past a store advertising clearance sales, Thursday, Jan. 14, 2010, in Tallahassee, Fla. Retail sales unexpectedly fell in December, leaving 2009 with the biggest yearly drop on record and highlighting the formidable hurdles facing the economy as it struggles to recover from the deepest recession in seven decades.
  15. Greek Finance Minister George Papaconstantinou reacts during a press conference in Athens, Greece, Thursday, Jan. 14, 2010. Papaconstantinou outlined a recovery plan meant to extract Greece from a major debt crisis that has alarmed its EU partners and international markets, on which the country depends for borrowing. He said the budget deficit will be reduced from 12.7 percent in 2009 to 2.8 percent in 2012, through spending cuts and increased tax revenues, while the crippling debt will start to be reduced in 2012 and the economy will exit a 2-year recession in 2011.
  16. Kansas City Federal Reserve President Thomas Hoenig listens during a discussion on "Ending Government Bailouts" at the American Economic Association Conference in Atlanta, Georgia January 5, 2010. Some activities may need to be curtailed at large financial firms to prevent a recurrence of the financial crisis that resulted in a global recession, Hoenig said on Tuesday.

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