Unemployment rises from 9.8% to 10.2%
The unemployment rate in the U.S. soared to a 26-year high of 10.2 percent in October and employers cut more jobs than forecast, underscoring why
Federal Reserve policy makers say interest rates will remain low until the labor market recovers.
Even though we all know that the employment picture is awful at the moment, this jump was pretty surprising, at least to me. An increase of .4% is
roughly what we were experiencing at the height of the recession and with the accompanying reports earlier this week of productivity going through the
roof, the odds of a so-called jobless recovery seem to be increasing at every turn.
[edit on 6-11-2009 by vor78]
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