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US jobless surges to highest level in nearly 16 years

US employment plunged by 524,000 in December - confirming the American labour market is in its worst shape since the end of the Second World War and fuelling fears about the depth of the recession in developed economies.

US employment plunged by 524,000 in December - confirming the American labour market is in its worst shape since the end of the Second World War and fuelling fears about the depth of the recession in developed economies.