Economy sheds more jobs, unemployment hits 6.5%

Nov 07, 2008 | 12:32 PM |

The economy lost another 240,000 non-farm payroll jobs in October, and the unemployment rate rose to 6.5 percent from 6.1 percent, the U.S. Bureau of Labor Statistics reported Friday.

October's drop in payroll employment followed declines of 127,000 jobs in August and a revised 284,000 jobs in September. Employment has fallen by 1.2 million in the first 10 months of 2008, with more than half the decrease occurring in the past three months.....

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