Jobless rate rises to 10.2%
Level highest since 1983; climb not expected to stop
Saturday, November 7, 2009
The unemployment rate in the U.S. rose to 10.2 percent in October, the Labor Department said Friday.
The jump from 9.8 percent in September marks the highest unemployment level since 1983, and it is likely to go higher, economists said. The rising jobless rate could threaten the economic recovery if consumers remain cautious about spending, experts have said.
Payrolls fell by 190,000 last month, pushing the total of unemployed in the country to nearly 16 million, according to the Labor Department report. The job losses occurred across most industries, from manufacturing and construction to retail and financial.
In Arkansas, the unemployment rate held steady in September at 7.1 percent. The figure for October will be ...
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Front Section, Pages 1 on 11/07/2009
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