Jobless, Unemployment Rate | featured news

The U.S. economic recovery will be weaker than after previous deep recessions, and the high jobless rate will decline only slowly, the OECD said on Thursday.

The United States economy shed 190,000 jobs in October, the government reported, and economists do not foresee relief until well into next year.

A net 263,000 jobs were eliminated in September, pushing the jobless rate to a 26-year high. Stocks fall on the news. The nation's labor market took a turn for the worse in September as employers eliminated a net 263,000 jobs, far more than expected and reversing a pattern of steadily declining payroll losses in recent months, the Labor Department said today.

Even as the July numbers came in better than expected, the job market remains shaky in the months ahead.

Japan sees its unemployment reach a six-year high, at 5.4%, with job availability at a new low, in a further sign of the slowdown.

The Federal Reserve expects the U.S. economy this year will sink at a slower pace than it previously thought, but that unemployment ...