Unemployment Climbs to 9.8 Percent in September

The Department of Labor released new employment numbers Friday that show 263,000 jobs were cut in September, driving the U.S. unemployment rate to 9.8 percent. The report wiped away any hope of job recovery this year, the New York Times concluded, and suggests high unemployment levels could remain through next year or longer. More than 15 million Americans are now unemployed after two years of steady job losses every month.

263,000 Jobs Lost in September, Far More Than Expected [New York Times]