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US unemployment rate reaches 9.8% in November

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by Kay Mitchell
”US

There are continued fears for the strength of the US economic recovery today after the jobs market fails to improve.

The Labor Department revealed the unemployment rate rose to 9.8% in November – the highest level since April.

The rate has now exceeded the 9% mark since May 2009.

The US economy added just 39,000 in November – far below forecasts of 130,000 jobs and significantly less than the 172,000 jobs created in October.

The number of unemployed is currently hovering around the 15.1 million mark.

Many analysts described today’s figures as “disappointing” and “not what was expected”.

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News posted: December 3, 2010

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