Unemployment rose to 8.1% in February-the highest level since 1983-as businesses cut 651,000 non-farm jobs, the Department of Labor reported today.
The economy has lost 3.67 million jobs since the current recession started in December 2007. In the last four months, employment has declined by 2.6 million. The total number of jobs declined during each of the last 14 months.
The number of persons unemployed in February was 12.5 million, up from 11.6 million in January, when the unemployment rate was 7.6%.
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