Jobless rate bolts to 8.5 percent, 663K jobs lost

[Chris_]

Jobless rate bolts to 8.5 percent, 663K jobs lost

WASHINGTON (AP) -- The nation's unemployment rate jumped to 8.5 percent in March, the highest since late 1983, as a wide range of employers eliminated a net total of 663,000 jobs.

The Labor Department's report is fresh evidence of the toll the recession has inflicted on America's workers and companies.

The latest tally of job losses, released Friday, was slightly higher than the 654,000 that economists expected. The rise in the unemployment rate matched expectations.

Since the recession began in December 2007, the economy has lost a net total of 5.1 million jobs, with almost two-thirds of the losses occurring in the last five months.

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[SSG Snuggle Bunny]

All they can do in Colorado is bitch about budget deficits while spending more money such as subsidizing in-state tuition rates for illegals attending state colleges. Meanwhile, they have huge piles of money underground in the form of oil and gas but all they can do is tighten the regulatory noose. One company that was running 12 drilling rigs in Weld county in 2008 is running FOUR in 2009. And the effect ripples to all the suppliers and servicers not to mention the money not being spent as earned wages in the local economy. The state capitol is absolutely tone deaf because Denver and Boulder supply all the votes they need to stay comfortably enthroned.

[rich_t]

Obama is making Carter look good by comparison.