Unemployment Hits a 26-Year High
Posted on Sep 4, 2009
Nearly 7 million jobs have disappeared since the start of the recession in December 2007.
Just as the Labor Day weekend arrives comes word that the U.S. economy shed another 216,000 jobs last month, pushing the unemployment rate up to a 26-year high of 9.7 percent.
US employers cut 216,000 jobs in August, pushing the unemployment rate up to 9.7%, a 26-year high, official figures show.
The unemployment rate rose after dipping to 9.4% in July but the Labor Department said the job loss figure was the smallest in a year.
Since the start of the recession in December 2007, the economy has shed 6.9 million jobs, the department said.
Jobs have been lost across manufacturing and service industries.
Total unemployment stands at 14.9 million.
More Below the Ad
New and Improved Comments
If you have trouble leaving a comment, review this help page. Still having problems? Let us know. If you find yourself moderated, take a moment to review our comment policy.