Friday, April 3, 2009

Unemployment Rate Hits 8.5%

The Labor Department reported a net job loss of 663,000 during the month of March and an increase in the unemployment rate from 8.1 percent to 8.5 percent.
At 8.5 percent, the unemployment rate reached its highest level since 1983 as the total number of unemployed people rose to 13.2 million. If those working part-time for "economic reasons" and those too discouraged to continue looking for work are included, the unemployment rate would have been 15.6 percent in March, the highest since this data series began in 1994.

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