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U.S. Unemployment Rate Hits Five-Year High
Following yet another month of significant job loss the U.S. unemployment rate has hit a five-year high of 6.1%, casting further doubt about the troubled economy.
According to reports for August nearly 84,000 jobs were lost with the majority, 61,000, coming from the manufacturing industry.
August numbers follow dismal reports for June and July in which job loss figures have been revised to 100,000 and 60,000, both significantly higher than what had been forecast.
More than 600,000 jobs have been lost since the start of the year.
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