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US unemployment rate reaches maximum in 26 years

07 November 2009 08:38 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. The unemployment rate in the U.S. jumped to 10.2 percent in October, the highest level since 1983. Payrolls fell by 190,000 or 04.% last month, more than forecast by economists. Builders cut payrolls by 62,000 after a loss of 68,000 in September. Financial firms cut payrolls by 8,000, after 9,000 reductions the prior month. Service industries, which include banks, insurance companies, restaurants and retailers, subtracted 61,000 workers after cuts of 105,000 the prior month. Retail payrolls decreased by 39,800 after a decline of 44,200. The so-called underemployment rate -- which includes part- time workers whoâ€™d prefer a full-time position and people who want work but have given up looking -- reached a record 17.5 percent in October from 17 percent, yesterdayâ€™s report showed.