labor department

The Labor Department reports that the nation's unemployment rate rose 6.5 percent last month. The number of jobs lost were a lot higher than expected.

The report indicates that the downturn in the economy this year has been even deeper and more dramatic than most economists had expected.

The jobless rate is at a 14-year high.

AP - New claims for jobless benefits increased by more than expected last week as companies cut jobs due to the slow economy, the Labor Department said Thursday.

AP - Bad economic signals may continue today as the Federal Reserve is expected to report that industrial production dropped in September, while the Labor Department is anticipated to report another uptick in consumer prices and only a slight decline in applications for unemployment benefits.

The Labor Department releases monthly unemployment figures Friday. Figures released Thursday show first-time unemployment claims hit their highest level in seven years.

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Data from the Labor Department Friday showed September was the nine straight month of job losses. The nation's unemployment rate held steady at 6.1 percent.

However, employers slahed payrolls by 159,000 last month. The biggest losses came in the construction and manufacturing industries.

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Employers made deeper cuts in their payrolls in September, according to the Labor Department's monthly jobs report, as the economy experienced the biggest drop in jobs in more than five years.

US employers cut 159,000 jobs in September, the most in more than five years, Labor Department's figures show.

AP - New claims for unemployment benefits jumped last week to their highest level in seven years due to the impact of a slowing economy and Hurricanes Ike and Gustav, the Labor Department reported Thursday.

The U.S. unemployment rate leaped to 6.1 percent in August, the highest in nearly five years. The Labor Department released the numbers Friday, and they're worse than what many economists expected.

The economy lost another 84,000 jobs in August, and more than 9 million Americans are out of work.

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