Unemployment jumps to 7.6%
Friday, February 6, 2009 9:55No Comments
The Labor Department reported that the US unemployment rate jumped to 7.6% and nonfarm payrolls fell by the largest amount in 34 years.
Nonfarm payrolls dropped by a seasonally adjusted 598,000 in January, after a revised loss of 577,000 in December.
January marked the largest payroll loss since December 1974, according to a survey of workplaces. Payrolls fell by 597,000 in November.
“Job losses were large and widespread across the major industry sectors,” said Keith Hall, head of the Bureau of Labor Statistics. Manufacturing was particularly weak, experiencing its largest decline in 26 years.
Related posts:
You can follow any responses to this entry through the RSS 2.0 feed.
You can leave a response, or trackback from your own site.
