News
U.S. Unemployment Rate Highest Since 1992
The
U.S. Labor Department has released its latest figures for unemployment and the 7.6%
rate for January represents the largest jobless rate in the United States since
1992.
That
7.6% represents 598,000 non-farm jobs, up from the revised December figures
that jumped from 524,000 to 577,000. The continued slide in the U.S. employment
rate is further confirmation that the recession that has gripped the economy
continues to deepen.
Economists
had predicted a much lower figure prior to the U.S. Labor Department report and
with the new numbers many expect the slide to worsen.
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