US unemployment rate hits 7.6%

American firms shed nearly six lakhs jobs last month as the unemployment rate in US surged an all time high in 16 years.

Written by Agencies | Washington | Published: February 7, 2009 1:42:25 pm

American firms shed nearly six lakhs jobs last month as the unemployment rate in US surged an all time high in 16 years at 7.6 per cent,taking the figure to a staggering 36 lakh after the global meltdown struck in late 2007,the government said.

As many as 598,000 people lost their jobs in January and the unemployment rate in US too rose from 7.2 to 7.6 per cent which is an all time high in 16 years,Department of Labour said in its report. The report puts tremendous pressure on President Barack Obama to revive the economy.

About one-third of the total job loss of 3.6 million since December 2007 has been in the last three months. “In January,job losses were large and widespread across nearly all major industry sectors,” Keith Hall,Commissioner of Bureau of Labor Statistics,said in a statement.

The report said that both the number of unemployed persons at 11.6 million and the unemployment rate at 7.6 per cent rose in January.

Over the past 12 months,the number of unemployed persons has increased by 4.1 million and the unemployment rate has risen by 2.7 percentage points,it said. However,the report said,the government added 6,000 jobs.

Factories slashed 207,000 jobs in January this year,the largest one-month drop since October 1982,reflecting heavy losses at plants making autos and related parts.

For all the latest Business News, download Indian Express App

Share your thoughts
Advertisement
Advertisement
Advertisement
Adda
Advertisement