Jobless rate reaches 26-year high
Posted by lewi0116 on October 3, 2009
WASHINGTON — The unemployment rate rose to 9.8 percent in September, the highest since June 1983, as employers cut far more jobs than expected.
The report shows that the worst recession since the 1930s is still inflicting widespread pain and underscores one of the biggest threats to the fledgling economic recovery: that consumers, worried about job losses and stagnant wages, will restrain spending. Consumer spending accounts for about 70 percent of the nation’s economy.
Advertisement
