Never miss a story — sign up for PLANSPONSOR newsletters to keep up on the latest retirement plan benefits news.
Investing December 7, 2001
November's Unemployment Surges Another 0.3%
December 7, 2001(PLANSPONSOR.com) - The unemployment
rate surged to its highest level since 1995, according to the
monthly unemployment report released by the Department of
Labor (DoL).
Reported by Camilla Klein
November’s report shows the unemployment rate increasing to 5.7% from 5.4% the previous month as the US economy continued to contract.
Job losses in October and November, in which 468,000 and 331,000 jobs were shed respectively, were the worst for any two months in over two decades, according to data from the DoL.
The number of the unemployed now stands at 8.2 million.
Since the lows of October 2000, the unemployment rate has risen by 1.8%age points and the number of the unemployed has increased by 2.6 million.