Unemployment Tops 10%
The Labor Department says the economy lost 190,000 jobs in October, less than September, but still enough to send the unemployment rate to 10.2%... the first time unemployment has topped 10% since 1983. To date, nearly 16 million people can't find jobs.
Fox News explains:
The Labor Department said Friday that the economy shed a net total of 190,000 jobs in October, less than the downwardly revised 219,000 lost in September. August job losses were also revised lower, to 154,000 from 201,000.
But the loss of jobs last month exceeded economists' estimates. It's the 22nd straight month the U.S. economy has shed jobs, the longest on records dating back 70 years.
Counting those who have settled for part-time jobs or stopped looking for work, the unemployment rate would be 17.5 percent, the highest on records dating from 1994.
The jobless rate rose to 10.2 percent from 9.8 percent in September. The jump reflects a sharp increase in the tally of unemployed Americans, which rose to 15.7 million from 15.1 million. That was much larger than the net loss of jobs, which is based on a survey of businesses.
Economists say it could climb as high as 10.5 percent next year because employers remain reluctant to hire.
Permalink | tagged Job Loss, Jobs, Not Hiring, Unemployment, Unemployment tops 10%, t0% 
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Reader Comments (9)
Since the government can’t solve the problem, it’s time the people start facing unemployment with their own ingenuity:
(satire)
Just slap Obama's face on anything... it'll be a hit.
I am grateful to know that it could be worse. If obama hadn't already saved hundreds of thousands of jobs, just think of how many more people would be affected. Well actually, hundreds of thousands. And before he is done he will have saved another 3 million. Think of it, he will save 3 million jobs, I presume before his "first term" is up. He truly is "the one." MMM, MMM, MMM.
More Great Stuff:
---David Letterman
Egg Man;
I don't take seriously a guy who screws his female assistants that are young enough to be his daughter (sick), cheats on his wife and sexually intimidates his female employees. I know in the dimwit party as long as your politics are "correct" this type is behavior is tolerated and for some like yourself promoted as some type of great pearl of wisdom.
Did the unemployment rate go up to 10% (WOW nice job Barack) due to Democrats being defeated at the polls on Tuesday?
Ah, Tom's back. Welcome back, Tom!
Hello
People are facing very much problem for job.You have given good information about that unemployment issue.Thank you very much for sharing this information with us.
Tea,
Welcome to the site. Please feel free to browse our other sections and if you like what you see, join as a member--there are no prerequisites. And of course, give a yell if you need help with anything.