I'm minded of how it must feel for people riding buses on mountain roads in the fog when they just begin to realize that the motor coach has gone off the road.By JACK HEALY
Published: October 2, 2009
The American economy lost 263,000 jobs in September and the unemployment rate rose to 9.8 percent, the government reported on Friday, dimming the prospect of any meaningful job growth by the end of the year.
The Labor Departmentís monthly snapshot of unemployment dashed hopes that the pace of job losses would continue to slow as the economy clawed its way back from a deep recession. Economists had been hoping for 175,000 monthly job losses.
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To economists, that suggests that unemployment could remain at historically high levels through next year, if not longer.
Bad news: Jobs market getting worse