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US jobless rate at 26-year high
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by Babel-Fish | September 4, 2009 at 03:20 pm
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US employers cut 216,000 jobs in August, pushing the unemployment rate up to 9.7%, a 26-year high, official figures show.
The unemployment rate rose after dipping to 9.4% in July but the Labor Department said the job loss figure was the smallest in a year.
Since the start of the recession in December 2007, the economy has shed 6.9 million jobs, the department said.
Jobs have been lost across manufacturing and service industries.
Total unemployment stands at 14.9 million.
This could be a seasonal blip
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smkovalinsky
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at 12:53 on September 30th, 2009
Reuters reported today (Spetemeber 30, 2009) that the unemployment rate rose in all US cities in the month of August. It also said that a Labor department report stated that almost all of the 372 cities that the deartment surveyed had more jobless rate on a year on year basis for the eighth consecutive month. Detroit and Michigan were the worst hit cities with Detroit having maximum jobless rate in the country, pegged at 17%. Los Angeles lost most jobs in August when compared from a year ago.
http://www.reuters.com/article/domesticNews/idUSTRE58T6NQ20090930