U.S. Jobless Rate Near 26-Year High

U.S. employers cut 216,000 jobs in August, pushing the unemployment rate up to 9.7%, a 26-year high, official figures show. The unemployment rate rose after dipping to 9.4% in July but the Labor Department said the job loss figure was the smallest in a year. Since the start of the recession in December 2007, the economy has shed 6.9 million jobs, the department said. Jobs have been lost across manufacturing and service industries. Total unemployment stands at 14.9 million.