Unrelenting jobless rise imperils US recovery

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WASHINGTON, April 4 (AFP): Amid an unrelenting pace of job losses, the US economy faces a race against the clock as it struggles to recover from its worst slump since the Great Depression.
Another hellish month for the US labor market pushed the unemployment rate to a new 25-year high of 8.5 per cent with 663,000 jobs axed in March, official data showed Friday.
While some indicators point to stabilizing or modest growth, the key labor market continues to shed jobs massively, potentially derailing any recovery.
Analysts say a recovery will have to take root quickly to steady employment and avert a further slide in an economic abyss.