Nation's Jobless Rate Hits Highest Yearly Loss in 4 Decades

The nation's jobless rate scored its biggest year-to-year June increase in four decades, losing 6.1 million jobs in one year's time, a nearly 70 percent spike, a FOXNews.com analysis of labor statistics shows.

The jobless rate leapt to 9.5 percent from 5.6 percent between June 2008 and June 2009, a 3.9 percent spread that matched April and May yearly differences and tie for the highest yearly percentage spread since May 1974-1975.

In May 2009, 14.5 million people were unemployed -- 6 million more than one year earlier. The jobless rate during that time leapt to 9.4 percent from 5.5 percent, a 71 percent increase in the unemployment rate.

In April, 13.7 million people were unemployed, 6.1 million more than the previous April. The increase to 8.9 percent in April 2009 from 5.0 percent in April 2008 represented a nearly 80 percent annual increase in unemployment.

The last time the nation saw that high of a jump in one year was May 1975 when the unemployment rate climbed to 9.0 percent from 5.1 percent, a 76 percent increase in the jobless rate. However at that time, fewer people were in the workforce so the leap represented 3.7 million job losses.

The highest single-year jump on record still dates back to the October 1948-October 1949 time period, when the jobless rate more than doubled -- leaping to 7.9 percent from 3.7 percent. The 7.9 percent rate -- 4.9 million unemployed workers -- was fueled in part by tens of thousands of newly discharged servicemen flooding the job market.

Asked whether the current unemployment rate will hit 10 percent, White House spokesman Robert Gibbs said, "Absolutely. It might not be next month, but in two or three months, it's clear we'll hit that number."

After the release of the unemployment rates on Thursday, President Obama said he's still "deeply concerned" about the continuing loss of jobs across the United States.

He said that developing both a short-term and longer-term solution to America's economic woes is "one of the things that I'm most focused on."

Obama told The Associated Press he feels his administration has stabilized the housing and financial markets, while he acknowledged that more work needs to be done in the area of job creation.

The president said he understands that people are "worrying if they're going to be next."