U.S. joblessness is the highest since the Great Depression and still climbing, according to a new report from the Federal Reserve.
In a sign of rising discontent, a majority of Americans — 57 percent — said they were not looking for a job in the past 12 months.
And a whopping 65 percent said they would be less likely to hire someone with the same job in their area in the next year, according the report released Wednesday.
The Fed’s annual report on the U.K. economy says the country has seen the largest jobless rate in the developed world since the end of World War II.
It also says the jobless rates in Canada, Germany and the U.-S.
have also risen in recent months.
The jobs report came as the Federal Communications Commission announced it would reclassify broadband Internet access as a utility, allowing it to be sold to customers at a discount.
The FCC also is expected to reclassulate phone service.
The report found that the unemployment rate has dropped by 7 percentage points since April.
The unemployment rate in October was 5.5 percent.
It was the second lowest since the late 1990s, according a separate report from Gallup.
The numbers came just days after U.N. Secretary-General Antonio Guterres said the world needs to start rebuilding the economies of the developing world.
The U.A.E. is a sign that the world is on the cusp of a new normal, Guterre said.
The region is one of the most underdeveloped countries in the world.
Guterrels comments came as a U.B.C. economist noted that the job market is in decline in countries like Indonesia, which he said has seen a “sharp rise in youth unemployment rates and a sharp rise in the number of jobless people.”
The report said that while there are still some openings, the joblessness rate has declined from 5.6 percent in the fourth quarter of 2015 to 5.4 percent in September.
The jobless figures for September showed the world economy is struggling to keep up with the rapid pace of economic growth in the developing region.
In Brazil, for instance, the unemployment is nearly double the rate in Europe, the report said.
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economy is also still recovering from the economic impact of the Super Bowl, the worst-ever sports event in the U-K., and the Ebola pandemic.
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