US jobless rate increases to 8.1%

The US jobless rate jumped in February to 8.1%, according to official figures from the Labor Department.

The number of people out of work rose by 651,000 during the month. Both figures were bigger than expected.

The number of job cuts in January was revised up to 655,000 while December's losses were pushed up to 681,000.

December's figure was the biggest job loss in a single month since October 1949. The unemployment rate was the highest since December 1983. ...

A total of 12.5 million people are now unemployed in the US.

"It just continues to show the grim state of the labour market, which suggests a deepening US recession," said Joe Manimbo, currency trader at Ruesch International in Washington...via BBC NEWS | Business | US jobless rate increases to 8.1%.

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