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US jobless rate jumps to 14-year high

PUBLISHED ON: November 7, 2008 | Duration: 0 min, 37 sec

   
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The nation's unemployment rate bolted to a 14-year high of 6.5 percent in October as another 240,000 jobs were cut, the government said Friday. It was stark proof the economy is almost certainly in a recession. The new snapshot, released by the Labor Department, shows the crucial jobs market deteriorating at an alarmingly rapid pace.
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