Unemployment Rate

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The job market worsened last month.

The Labor Department says the nation's unemployment rate rose to six-percent, up two-tenths of one percent. In addition, the government says businesses trimmed payrolls by 48,000 jobs, marking the third straight monthly decline in overall hiring. Jobs were lost in manufacturing, travel-related industries and at department stores.

The deterioration in employment was largely expected, with analysts saying it will be at least several months before the pace of hiring picks up. Business spending remains tentative, reflecting, in part, caution surrounding the war.