U.S. unemployment rate highest since 1998 - Canada's job rate remains steady

We have not seen the end to job-letting on both sides of the border, says deputy chief economist for Scotiabank
|hrreporter.com|Last Updated: 09/05/2003

At 4.5 per cent, the unemployment rate in the United States is the highest it has been since 1998.

Manufacturers continued to suffer heavy losses in June and the demand in service industries fell to its lowest level in nearly a year. Businesses are slashing payroll for the second time since April.

More than 114,000 U.S. jobs were cut in June (165,000 were cut in April). The unemployment rate is the latest economic ailment in the country’s year-old economic slowdown.