US jobless rate hits 10.2% as 190,000 jobs lost
WASHINGTON - US unemployment rate shot up to 10.2 percent in October as another 190,000 jobs were shed, the Labor Department said Friday.
The report highlighted ongoing struggles in the labor market: the jobless rate was the highest since 1983 but the number of jobs lost narrowed to the lowest level in over a year.
Overall, the Labor Department monthly report - one of the best indicators of
economic momentum - was worse than expectations for a 10 percent jobless rate and 175,000 job losses.
- AFP/ir
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