Unemployment soars to 8.5 pct.; 13 million jobless

Unemployment in the United States has now reached 8.5%, the highest in more then 25 years. That 8.5% percent translates into about 13 million Americans that are now without a job. Even with the economy beginning to experience slight improvements, Federal Reserve Chairman Ben Bernanke beliefs that the recession may end as early as this fall, the jobless rate is expected to reach more then 10%. However, not all news is bad currently, because the Dow Jones rose for the fourth consecutive week and is now above 8,000 for the first time in more then two months.
Even Americans that have been lucky enough to hold onto their job have not been unaffected by the recession. The average work week for the month of March dropped to 33.2 hours, a record low. Surprisingly, with so many people losing their jobs as a result of the economic climate there has not been one individual industry that is being hit the hardest. Construction companies, factories, retailers and even the federal government cut thousands of jobs. The Federal Government has taken many steps to help curtail this poor economy by slashing interest rates, budget cuts, and the 787 billion dollar stimulus package.

http://finance.yahoo.com/news/Unemployment-soars-to-85-pct-apf-14850511.html