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US unemployment rate hits 10 percent

Unemployment rate in the US has hit…

November 8, 2009 3:25 by

Unemployment rate in the US has hit 10.2 percent in October, the highest since 1983, reports The Associated Press. The jobless rate, which increased from 9.8 percent in September, is likely to go higher

in the coming months, adds the report. The rate indicates that nearly 16 million people are jobless in the country, and according to the US Labor Department, the job losses took place across most industries.

The 10.2 percent however does not include jobless people who have stopped hunting for work or those who are working part-time; with those people, the unemployment rate would be 17.5 percent.

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