Economic News

U.S. jobless rate highest since 1983

WASHINGTON - America's unemployment rate jumped to 8.5 per cent in March, the highest since late 1983, as a wide range of employers eliminated a net total of 663,000 jobs.
The U.S. Labour Department's report is fresh evidence of the toll the recession has inflicted on America's workers and companies. Most economists expect the job cuts will continue for much of this year.
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