| The loss of 240,000 jobs in October, coupled with a job-loss figure for September that was sharply revised upward to 284,000, brought the two-month decline to 524,000. The private sector lost 263,000 jobs in October, for a two-month total of 506,000. This is the sort of sharp decline in employment that is typical for recessions. The unemployment rate jumped to 6.5 percent in October, the highest rate since March of 1994. |
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