Unemployment Rate Jumps to 9.7%, Highest Since June 1983

American workers continued to lose jobs in August but the number of layoffs were significantly lower than in prior months, a sign that the while the economy is not yet growing, it is nearing a recovery. Last month, another 216,000 jobs were shed by the nation's employers. The nation's unemployment rate also jumped from 9.4 percent to 9.7 percent, higher than analysts were expecting. Since the start of the recession, 6.9 million American jobs have been lost. But it now looks like most of the...Full Story
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