Posted AT 8:44 AM EST on 05/09/08
U.S. jobless rate jumps to 5-year high
WASHINGTON — The U.S. unemployment rate zoomed to a five-year high of 6.1 per cent in August as employers slashed 84,000 jobs, dramatic proof of the mounting damage a deeply troubled economy is inflicting on workers and businesses alike.
The Labor Department's report, released Friday, showed the increasing toll the housing, credit and financial crises are taking on the economy.
The report was sure to rattle Wall Street again.
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