Unemployment is on a high.

The nation's unemployment rate soared to a 14-year high last month, and analysts expect it to climb higher.

The U.S. Labor Department reported Friday that the nation's employers cut 240,000 jobs in October, contributing to a 6.5 percent jobless rate --the highest since March 1994. Manufacturing jobs dropped by 90,000. Construction cut 49,000 jobs, and is down by 663,000 since its peak in employment in September 2006. Professional and business services trimmed 51,000 jobs, retail employment fell by 38,000 and financial services cut another 24,000 jobs. Only health-care employers and mining added to payrolls, with 26,000 and 7,000 new jobs respectively.