Report Shows Weakness in Job Market

By Toni Vranjes

October 2, 2009

The government released the September jobs report today, and the news is bleak.

The unemployment rate was 9.8 percent, up from 9.7 percent the previous month, according to the U.S. Labor Department. The jobless rate has reached the highest point in 26 years.

Job losses also increased. Nonfarm payrolls dropped by 263,000, compared to the revised total of 201,000 in August. The report showed particularly heavy losses in construction, manufacturing, retail trade, and government.

The nation has lost 7.2 million jobs since the start of the recession.

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