Jobless rates highest in 4 years
August 4, 2008
The country’s unemployment rate reached its highest level in four years, for July. Unemployment climbed to 5.7 percent from 5.5 percent, as employers cut 51,000 jobs. Particularly, jobs in the manufacturing, construction and service providing industries were cut.
Analysts suggest some employers are cutting jobs because of the weighing high energy prices and existing housing situation. The Labor Department released its monthly Employment report Friday, August 1.
Read more at the US Department of Labor.
