Global financial crisis claims another 651,000 jobs in America
7 Mar 2009, 1716 Hrs

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New York, Mar 7 The ongoing global economic meltdown has claimed the loss of another 651,000 jobs in America, boosting the nation's unemployment rate to 8.1%, its highest figure since 1983.

The Labor Department figures in January had revealed a hike from 7.6%, putting U.S. unemployment at a level not seen since December 1983, when the jobless rate hit 8.3%.

An estimated 4.4 million jobs have vanished in the past 15 months, including 2.6 million in the last four months alone, the federal officials said.

According to the Daily News, those figures included revised numbers showing job losses in December and January were worse than initially thought.

In December, there were 681,000 jobs lost, instead of the estimated 577,000.

Likewise, in January the job loss figures amounted to 655,000, and not 598,000.

As a result, the number of unemployed Americans now stands at 12.5 million.

The economic experts have predicted more bad times ahead.

"Job losses were everywhere, and there's no hope for a turnaround any time soon," said Nigel Gault, an economist with IHS Global Insight.

Every sector has been experiencing the wrath of the economic slowdown.

Construction companies had to cut 104,000 jobs, while professional and business services dumped 180,000 positions.

Temporary agencies slashed 78,000 jobs in February.

Moving on a similar pattern, the financial companies reduced their payrolls by 44,000 pounds. (ANI)

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