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Unemployment in the US jumps from 9.8% to 10.2%.

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posted on Nov, 6 2009 @ 07:45 AM
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]

posted on Nov, 6 2009 @ 11:48 AM
reply to post by vor78

I can hear them in the White House.
"How do we spin this?"
15.7 million people unemployed.

Here is the no spin link.
Government Numbers - Looks bad
Lets destroy even more jobs by passing Cap & Trade!

[edit on 6-11-2009 by Eurisko2012]

[edit on 6-11-2009 by Eurisko2012]

[edit on 6-11-2009 by Eurisko2012]

posted on Nov, 6 2009 @ 02:31 PM
reply to post by Eurisko2012

1. You cannot compare unemployment from this time period to any other, because the methods of calculating have changed drastically as late as Clinton.

2. When comparing to the Great Depression, the best numbers to use are U6 numbers...

October U6 = 17.6%

Puts Unemployment at approx 22% (I am more inclined to believe this number, as i includes everyone.)

Unemployment benefits are like a mask hiding the decay of this economy.. when it runs out, you will truly see the hell millions are living in.

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