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Payrolls Drop 524,000; Jobless Rate Soars to 7.2%

WASHINGTON — December payrolls plunged another 524,000 and October-November jobs revisions totaled a 154,000 decline. Confirming the poor showing, the civilian unemployment rate jumped 0.4 point to 7.2%, a high since January 1993. The rising unemployment rate came despite a shrinking labor ...

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