US Jobless Rate Rises Sharply To 8.1 Percent

Friday's report from the Labor Department shows a half-percent rise in the unemployment rate. The jobless rate is now at its highest level in 25 years.

This is just the latest data to show the recession deepening in the world's largest economy, which is plagued by falling home prices, declining consumer confidence and tight credit.

Investors expected a grim report on U.S. unemployment, and Asian markets retreated Friday.

Japan's benchmark Nikkei index lost 3.5 percent to finish at (7,173) the lowest level since October 27, 2008. Hong Kong's key Hang Seng market fell more than two percent.

Some information for this report was provided by AP and Reuters. By VOA News.