US unemployment jumps to 10.2%

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US unemployment jumps to 10.2%

Posted November 06, 2009 15:04:04
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WASHINGTON (AFP) --

The US unemployment rate shot up to 10.2 percent in October as another 190,000 jobs were shed, the government said Friday in a report showing narrowing job losses.

I thought the president created 650,000 jobs ......

http://www.timesoftheinternet.com/126109.html
The reading, reported by the government Friday, is a sign of the continued weakness in the labor market even though the economy grew in the third quarter following the longest and deepest downturn since the Great Depression.

The government reported that the unemployment rate spiked to 10.2%, up from 9.8% in September. It is the highest that this rate has been since April 1983. Economists had forecast an increase to 9.9%.

september highest rate april 1983 economists forecast increase 9 9

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+9 raves Kane Fernau November 06, 2009 18:47:02 (edited)

http://tradeandtaxes.blogspot...Why are you blocking me BUSHIT?
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sunny 3 days ago

moderated...
+1 raves
animelover_in_God_I_trust November 10, 2009 02:58:14

Right now I'm part of that 10.2% I don't know what we are going to do. If we don't do something soon then America as we know it will soon be no more
+1 raves
Angel to animelo... November 10, 2009 04:49:27

I am so sorry to hear you lost your job anime, it is not looking good but I sure pray you find work soon
+1 raves
animelo... to Angel November 10, 2009 11:36:34

thank you.
+2 raves
terr November 08, 2009 02:16:39

I am going to side with Glen Beck !This economy and country is being destroyed,,,,, purposely y.
God damn America reverend Wright ?
+2 raves
Angel to terr November 10, 2009 04:49:48

I agree with Beck, Hannity and Rush...
+2 raves
Lulu November 08, 2009 01:45:34

I know people, MBA's racking leaves....looking for a job, 6 months +...the family is in a bad situation, in everyway.
+2 raves
Angel to Lulu November 10, 2009 04:51:01

the crime rate is going up where I live, a man slapped a woman on the street and robbed her, and the bank got robbed all in the same hour... they still don't have the bank robbers
+1 raves
Lulu to Angel November 10, 2009 05:17:23

I live in KCMO a 3rd of my life, I love the city but east of Troost is bad....you can be driving through and be shot at....happened today 45th and Prospect. Just got into town heard on the news...5 or so people killed, wounded...don;t know the details but it is not my city anymore.....I just don't know what to say,,,,
+2 raves
Angel to Lulu November 10, 2009 05:57:31

wow that is terrible Lulu
+1 raves
Lulu to Angel November 11, 2009 00:53:02

Everyday something sad in KCMO AND KCK....gangs, drugs, kids and young adults...it is sad. No education, drop outs, no hope...just crime the percentage is high and getting worse. KCK is much better but still alot of crime.
+2 raves
texasred November 07, 2009 18:59:15

The only people that believed the crap they put out about all the jobs created are the ones that can't accept that Obama has lied and continues to lie to all of us.
+1 raves
Angel to texasred November 10, 2009 04:51:30

you are right about that texas ,they are all in denial
+5 raves
Charles R. Anderson November 07, 2009 06:34:58

The Stimulus Bill appropriated $787 billion and supposedly created 640,000 jobs. That makes the cost per job $1.23 million. The private sector will usually create about 25 jobs for such a sum. Marxists Commissars and socialist Congressmen are apparently only about 4% as effective in job "creation" if we accept their numbers. That also assumes that we do not count the several private sector jobs wiped out so the government can spend $1.23 million taken from the private sector taxpayers to "create" one Obama job.
+3 raves
Angel to Charles... November 07, 2009 17:55:10

thanks for breaking that down Charles.. good comment ;-)
auxarc to Charles... November 07, 2009 18:09:01

Dear Charles,
Over $300 billion of the Recovery Act was used for tax cuts to pump money into the pockets of people during the Spring Quarter of this year. Half of the Recovery Act has yet to be spent. Go back and rethink your math. . .
Charles... to auxarc November 12, 2009 01:27:18

I was aware of the fact that only about one-quarter of the Stimulus money had actually been spent, but there is little point in giving the Obama administration credit for failing to get the money spent in a timely way to address the recession while it still exists. Elsewhere, I had given the math on the basis of one-quarter of the money spent. On that basis, each job cost $307,500, with which the private sector would produce at least 6 jobs.

As for the $300 billion in tax cuts, wasn't that supposed to create jobs also? Basically, as I understand it, government usually thinks that any money they spend creates jobs, even if they are just breaking windows and having someone replace the glass.
+2 raves
wtw November 07, 2009 05:55:06 (edited)

At least in one instance in Texas, per Stuart Varney, the way this regime figured jobs saved or produced was by the number of hours worked. This was job done by stimulus money took 400 hours and so it was calculated that 400 jobs were created or saved????
+4 raves
RayG November 07, 2009 03:38:36

Yep....change we can believe in.. NOT Wish this was just a nightmare we could wake up from and find Obama back on the streets of Chicago selling his ACORN ideas to the locals
+5 raves
Angel to RayG November 07, 2009 03:44:04

you and me both Ray.....but we are living the nightmare I am afraid .... going to sleep is actually pleasant ;-)