Jobless Rate Climbs

January 12th, 2009

The national jobless rate is 7.2%? Ouch.

An early relief rally following the news that payrolls in the world’s largest economy declined by a smaller than anticipated 524,000 in December soon dissipated as investors focused on the rise in the unemployment rate to a 16-year high of 7.2 percent from 6.8 percent in the previous month. Analysts had expected unemployment to hit 7 percent in December.

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