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Posted AT 9:15 AM EST on 07/11/08

U.S. employers slash jobs

JEANNINE AVERSA

The Associated Press

WASHINGTON — Unemployment in the United States bolted to a 14-year high of 6.5 per cent in October as another 240,000 jobs were cut, the government said Friday. It was stark proof the U.S. economy is almost certainly in a recession. The new snapshot, releasedby the Labor Department, showed the crucial jobs market deteriorating at an alarmingly rapid pace. The jobless rate zoomed to 6.5 per cent in October from 6.

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