US Unemployment Rate Tops 9.8% in September 2009

The U.S. unemployment rate rose to 9.8 percent in September 2009, the highest since June 1983, as employers cut far more jobs than expected.  The Labor Department said Friday that the economy lost a net total of 263,000 jobs last month.  Over 500,000 unemployed Americans gave up looking for work.  Had they continued searching, the official jobless rate would have been much higher.