The unemployment rate in the US rose to 10.2% in October, which was its highest rate since April 1983, according to figures from the US Labor Department. It rose from September’s figure of 9.8%. The economy lost 190,000 jobs in the month. Since the recession began in December 2007, the number of unemployed has risen by 8.2 million, while the jobless rate has risen from 4.9%. President Barack Obama described the rise in unemployment as “sobering”. He also said he would be signing legislation to extend unemployment benefit, cut taxes for businesses and extend tax credits for home buyers.

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