U.S. Unemployment Rate for February Hits Highest Level Since 1983

The United States Labor Department has released the latest figures for unemployment and the 8.1% jobless rate marks the highest level since December 1983.

According to February’s figures more than 651,000 people lost their jobs, that figure was slightly lower than January’s revised number of 655,000 and December’s 681,000 jobs lost.

With the latest figures the number of unemployed now sits around 12.5 million people and an additional 8.6 million people who have sought full-time work have had to settle for part-time employment, now making the average working week stand at 33.3 hours.

Only education, health services and government jobs did not see a cut while the service sector saw 375,000 jobs lost, the manufacturing sector lost 168,000 and the construction sector saw an additional 104,000 jobs lost.

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