The US unemployment rate reached double figures in October for the first time in 26 years, the labor department has revealed.

Figures released by the government agency disclosed that the North American country's jobless rate hit 10.2 per cent last month, taking the total number of jobs lost since the recession began to 7.3 million.

Specifically, the labor department's survey of company payrolls revealed that the US economy shed 190,000 jobs in October, increasing the number of out-of-work Americans to 15.7 million.

Following the announcement, which was much worse than economists had predicted, president Barack Obama signed a measure to extend jobless benefits and expand tax credits for homeowners.

He referred to the disclosure as a "sobering number that underscores the economic challenges that lie ahead".

Last week, additional statistics released by the labor department revealed that the number of jobseekers claiming unemployment insurance declined to the lowest level recorded in ten months.