Jobless rate soars to 10.2% in October

Nov 06, 2009 | 10:48 AM | Corinna Petry

The U.S. unemployment rate rose to 10.2 percent in October from 9.8 percent in September, its highest level since April 1983, the U.S. Bureau of Labor Statistics (BLS) reported.

Nonfarm payroll employment fell by 190,000, with the largest job losses in construction, manufacturing and retail trade.

The number of jobless increased by 558,000 to 15.7 million. Since the start of the recession in December 2007, the jobless rolls have risen by 8.2 million, and the unemployment rate has grown by 5.3 percentage points.....

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