US unemployment reaches 26-year high
The number of unemployed people in the US has reached 14.9 million.
Unemployment in the USA has reached its highest level for 26 years, with 216,000 August job cuts taking the nationwide rate to 9.7%.
Since the recession began in December 2007, the number of jobless has risen by 7.4 million. Total unemployment in the US currently stands at 14.9 million.
The most recent official figures from the Bureau of Labor Statistics show that the unemployment rate has risen again after it dropped in July to 9.4%.
Employees in the manufacturing and construction sectors suffered the most with around 65,000 jobs being lost in each.
There have been a few signs of economic recovery in the US in recent months, but the new unemployment figures still casts a bleak outlook for the future.
Despite the high incidence of unemployment, the rate does appear to be slowing down as the monthly increases have declined slightly since the beginning of the year. Between December 2008 and May 2009, the rate increased by approximately 0.4 to 0.5% each month.
