Jobless rate takes biggest one-month jump in more than 21 years

WASHINGTON (AP) -- The nation's unemployment rate soared to 5.4 percent in October, the biggest one-month jump in more than 21 years, providing the most dramatic evidence yet that economic fallout from the terror attacks probably pushed the country into recession. Over 400,000 jobs were eliminated during the month.

"It's not good news for America," President Bush said, urging the Senate to quickly pass an economic revival package. After meeting with economic advisers, Bush said the Sept. 11 terrorist attacks had not only taken thousands of lives but had also "threatened the livelihoods of thousands of American workers."

Widespread job losses catapulted the unemployment rate from 4.9 percent in September to 5.4 percent last month, marking the highest unemployment rate the country has seen since December 1996, the Labor Department reported Friday.