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Jobless rate zooms again

Jobless rate zooms again – business currents

For the second consecutive month, the U.S. unemployment rate surged, rising to 5.7 percent in November, according to the U.S. Labor Department. The jobless rate, now at its highest level since August 1995, resulted from nearly across-the-board job cuts in various industries. Among pool-related sectors, construction led the way, followed by wholesale and retail. Combined with October’s numbers, the two-month job-cuts rate among all industries is the highest since 1980, according to Labor officials.

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