U.S. unemployment rate hits 25-year high

The nation’s unemployment rate jumped to 8.5 percent in March, the highest since late 1983, as a wide range of employers eliminated a net total of 663,000 jobs.

The Labor Department’s report is fresh evidence of the toll the recession has inflicted on America’s workers and companies.

The latest tally of job losses was slightly higher than the 654,000 that economists expected.

The rise in the unemployment rate matched expectations.