Unemployment

Unemployment Rate Reaches 16-Year High of 7.2% 

The national unemployment rate rose from 6.8 to 7.2 percent in December, according to data released Friday by the Bureau of Labor Statistics of the U.S. Department of Labor. The 2008 job losses reached 2.6 million — with 1.9 jobs shed in only the last four months of the year. December payroll employment fell by 524,000, bringing the total four-month payroll employment down by 1.9 million.