October Jobless Rate Tops 10 Percent
A sign the labor market continues to struggle as the economy emerges from its deep recession. Read More...
October Jobless Rate Tops 10%
* NOVEMBER 6, 2009, 12:01 P.M. ET
By LUCA DI LEO and JEFF BATER
WASHINGTON -- U.S. unemployment rose by more than expected in October to hit its highest level in more than 26 years and employers cut more jobs than forecast, a sign the labor market continues to struggle as the economy emerges from its deep recession.
The unemployment rate...rose by 0.4 percentage point to 10.2%, the Labor Department said Friday. Economists surveyed by Dow Jones Newswires had forecast an increase to 9.9%.