Citi Plans to Layoff Thousands

In a recent article by CNNMoney, Citigroup will lay off 4,500 employees over the next few quarters. The current unemployment rate in the U.S. is 8.6%, which is better than the recent market trend but is still higher than the history average of 6%. Hopefully this will not decrease it any further and cause a slowing of our economy, as consumption will also decrease.