The U.S. unemployment rate hit 9.8 percent in September, as the recession is proving to be more resilient than prior estimates.
The American labor market received another jolt on Friday, as employers eliminated far more jobs in September than analysts were anticipating. Unemployment in the United States
reached 9.8 percent - the highest figure since June 1983.
263,000 jobs were lost in September, demonstrating the staying power of the worst recession since The Great Depression - and putting considerable pressure on the Obama administration to prove that the federal stimulus program is having any effect.
According to a survey by Thomson Reuters, economists were expecting a September loss of 180,000 jobs across the U.S.
When looking at data on including laid-off workers who have opted for part-time work and on those who have simply given up, the nation's unemployment figure stands at 17 percent. The number of people out of work for 6 months or longer climbed to a record 5.4 million.
While analysts believe the U.S. is in the early stages of a recovery, there are daunting numbers in the Labor Department report.
