Unemployment Hits 8.5 Percent, Highest Since '83, Bottom A Long Way Off
New figures released today show that the unemployment rate in March jumped to 8.5 percent, up from 8.1 percent in February. The economy shed 663,000 jobs last month across all nonfarm sectors, except for healthcare. 133,000 jobs were lost in professional and business services, with more than half of those cuts from temporary help services.
A number of economists are now saying they believe the unemployment rate to hit 10 percent later this year, the Washington Post reports.
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