| Kippreport.com

US unemployment rate hits 9.7 percent

September 6, 2009 12:47 by kippreport

The number of jobless Americans increased by nearly 500,000 to 14.9 million in August this year, according to the latest unemployment report issued by the government. The country’s unemployment rate reached 9.7 percent, but the number of job losses was less than expected, reports the Associated Press. In August, 216,000 people in the country were laid off, 9,000 lesser than anticipated.

However, economists predict that the nation’s unemployment rate will reach above 10 percent by the middle of next year.

Tags: Financial Crisis, laid off, unemployment rate, US