In economic news, the nation’s official unemployment rate surged to 9.7 percent in August, but economists say the actual unemployment rate is nearly 17 percent. Employers cut 216,000 jobs last month. Teenagers have been particularly hard hit. The teenage unemployment rate is now over 25 percent, the highest level since the government began keeping track of such statistics in 1948.
Official Unemployment Rate Surges to 9.7 Percent
HeadlineSep 08, 2009