Duke

• Duke's Financials
• What Duke is Doing
• How You Can Help
• Duke News
• Area & Market News
• Personal Finance

Across the country, individuals and organizations are grappling with the recession’s impact. In North Carolina, the unemployment rate climbed in one year from 4.9 percent in January 2008 to 8.7 percent in December 2008 – a 25-year high.

Here's a look at the bigger picture, to provide context for how Duke is responding to the situation:

Area & Market News

• U.S. Unemployment Reaches 25-year High of 8.5 % (Bloomberg)
  April 3, 2009
  
• NC Unemployment Rate Reaches 9.7 Percent (NC Employment Security Commission)
  March 11, 2009
  
• U.S. Economy Shrank 6.2 percent Last Quarter, Most Since 1982 (Bloomberg)
  February 27, 2009
• Employers slash deep and fast (News & Observer)
  January 27, 2009
• NC unemployment in December rises to 8.7 percent (News & Observer)
  January 23, 2009
• Wall Street Journal video: Economists Expect a Grim 2009
  January 15, 2009

For the latest North Carolina unemployment rate and labor statistics, visit the Employment Security Commission of North Carolina.

Colleges and Universities

• Brown:
  Buyout Plan Offered to Brown Employees (November 4, 2009)
  Brown to Trim $30m More From Next Budget (July 19, 2009)
  Hiring Freeze May Hit Athletics Hard (April 21, 2009)
  First Round of Layoffs Have Begun (April 8, 2009)
  Message on the State of the University’s Budget in the Current Financial Crisis (January 27, 2009)
• University of California:
  Regents Raise College Tuition in California by 32 Percent (November 20, 2009)
• UC Berkeley:
  UC Berkeley to Restrict Hiring of New Professors (March 10, 2009)
  
• University of Chicago:
  450 Layoffs Announced at U. of C. Medical Center (February 9, 2009)
• Cornell:
  College of Arts and Sciences Task Force Suggests Extensive Cuts (September 1, 2009)
  Cornell University Encourages Staff Retirement (March 2, 2009)
  Budget cuts to safeguard strength of Cornell (January 25, 2009)
• Dartmouth:
  President Kim Announces Changes to Administrative Structure (November 20, 2009)
  Campus Prepares For Coming Budget Cuts (November 10, 2009)
  Dartmouth Aims to Cut $100 Million Over Two Years, Layoffs Likely (November 9, 2009)
  Dartmouth Endowment Down 23% (October 12, 2009)
  A Message to Members of the Dartmouth Community from President Jim Yong Kim (October 9, 2009)
  Dartmouth Announces Budget-Reconciliation Plan (February 9, 2009)
  Dartmouth announces layoffs (January 22, 2009)
  Dartmouth to Cut Budget After Endowment Loses 18% (January 22, 2009)
• Harvard:
  University May Assume More Debt (October 23, 2009)
  Rich Harvard, Poor Harvard (August, 2009)
  Harvard Workers Stunned by Layoffs (June 24, 2009)
  Letter From Harvard's Human Resources (June 23, 2009)
  The Incredible Shrinking Harvard (May 29, 2009)
  Interactive Graphic: Elite Endowments Plunge (May 22, 2009)
  Harvard to Offer 1,600 Buyouts (February 12, 2009)
  Arts & Sciences Dean Asks for Budget Cuts (December 10, 2008)
  Harvard looks to tighten its belt (November 11, 2008)
• Johns Hopkins:
  Johns Hopkins Freezes Hiring and Salaries, and Will Cut Top Administrators' Pay (February 13, 2009)
• Kent State:
  Kent State University Drops Sabbaticals For Next Year to Save Money (February 19, 2009)
• Maryland:
  UM, College Park Plans to Freeze Hiring, Reduce its Staffing (July 29, 2009)
  
• MIT:
  MIT May Cut Employee Pension Plans, Saving $200M (October 23, 2009)
  MIT Libraries Lays Off Staff, Plans to Close Two Branches (March 13, 2009)
  Letter to MIT Community From President Hockfield (February 19, 2009)
• UNC:
  Trustees Pass 5.2 Percent Tuition Hike (November 20, 2009)
  UNC System Cutting Hundreds of Administrative Jobs (August 31, 2009)
  Bowles Orders UNC to Cut From the Top (August 29, 2009)
  UNC System Might Have to Raise Tuition Again (July 16, 2009)
  UNC System Sounds Budget Alarm (May 29, 2009)
  UNC System Ready for Further Cuts (May 8, 2009)
  UNC Forced to Make Big Cuts (April 26, 2009)
  Information Technology Services Department Announces Layoffs (March 27, 2009)
  Bowles Warns of Budget Cut's Consequences in UNC System (March 13, 2009)
  
• UNCG:
  UNC Greensboro Warns of Budget-Driven Layoffs (March 27, 2009)
  
• Princeton:
  Princeton Reduces Searches for New Faculty (November 10, 2009)
  Princeton To Layoff 43 Employees (October 30, 2009)
  145 Employees at Princeton University Opt for Retirement (September 5, 2009)
  Princeton Reins In Its Lavish Spending (April 20, 2009)
  Princeton University Seeks $170M in Budget Cuts (April 9, 2009)
  Departments Prepare for Budget Cuts (April 8, 2009)
  Attrition, Layoffs to Cut 60 Positions (March 6, 2009)
  Princeton Cuts Budget as Endowment Slides (January 9, 2009)
  President's letter on Princeton's response to the economic downturn (January 8, 2009)
  President details impact of economic downturn (January 8, 2009)
• Stanford:
  As Fiscal Year Closes, Impact of Downturn Felt Across Campus (September 1, 2009)
  University Budget Announced (May 29, 2009)
  Budget Cuts Announced For Three Units (April 22, 2009)
  Salaries Frozen at Faculty Senate (March 6, 2009)
  Provost Announces Salary Freeze, Additional Cuts for FY 10 (March 5, 2009)
  Stanford Cuts in Athletics (January 20, 2009)
• Vanderbilt:
  Economic Message from Provost Richard McCarty (October 13, 2009)
  Vanderbilt to Freeze Salaries of Faculty and Staff (February 19, 2009)
  
• Yale:
  Yale Issues $1 Billion in Bonds (November 10, 2009)
  University Plans Targeted Cuts (October 23, 2009)
  University Layoffs Will Continue (April 27, 2009)
  Laid Off SOM Staff Notified (April 8, 2009)
  Layoffs Ahead for SOM Staff (March 23, 2009)
  Layoffs To Come at School of Management (March 11, 2009)
  Departments to Cut Costs (March 2, 2009)
  Up to 300 Will be Fired (March 2, 2009)
  Budget Letter from President Richard C. Levin (December 16, 2008)
   
  
• Market Collapse Weighs Heavily on Endowments (January 27, 2009)
  
• Stiff Challenges, Especially for Private Colleges (January 16, 2009)
• Fundraisers Forecast Decline in Giving to Education in 2009 (January 16, 2009)