Unemployment in the US is at 6.5%, which is the highest rate since March 1994.  BBC News reports:

Figures from the US Labor Department showed US employers cut 240,000 jobs in October, the 10th month in a row that the economy has lost jobs.

The increase means that in the first 10 months of this year, 1.2 million people in the US have lost their jobs.

Some economists predict the jobless rate could climb to 8%, or possibly higher, next year.

In the 1980-1982 recession, the unemployment rate rose as high as 10.8% before coming down.

Advertisements