Posted on 11/06/2009 5:31:56 AM PST by Red in Blue PA
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(Excerpt) Read more at cnbc.com ...
U.S. employers cut a deeper-than-expected 190,000 jobs in October, government data showed on Friday, driving the unemployment rate to 10.2 percent, the highest in 26-1/2 years.
The Labor Department said the unemployment rate was the highest since April 1983. It revised job losses for August and September to show 91,000 fewer jobs lost than previously reported.
Analysts polled by Reuters had expected payrolls to drop by 175,000 and the jobless rate to edge up to 9.9 percent from 9.8 percent in September.
The labor market is being watched for signs whether the economic recovery that started in the third quarter can be sustained without government support. The economy grew at a 3.5 percent annualized rate in the July-September period, probably ending the most painful U.S. recession in 70 years.
Payrolls have declined for 22 consecutive months now, throwing 7.3 million people out of work since December 2007, when the recession started.
I blame Bush.
This is the closest I've ever seen Greta come to bursting a blood vessel on TV. She was outraged that they could spout off that nonsense without having any way to properly measure it.
Think about being a Dem congress critter in a close district and getting ready to vote for job killing BaraqqiCare and CrapNTax.
Maybe the raghead was on Obambi's private payroll. OK, a little far-fetched, but both Obama and this Muslim both seem to hate America and the military.
They will continue down this bunny path. When unemployment was at 4 or 5% they reported that we were in a huge recession. (Bush was president). They campaigned for obama and will never admit that they were/are wrong. The bright spot in all this is that the media keeps on lying to us and fewer and fewer people are buying their product. They are participating in their own demise.
Agree...and hope it has an impact on the upcoming votes for govt socialized health and the cap&tax bills.
I’m sure this was ‘unexpected’
>>The 2010 Elections cannot come soon enough!<<
It won’t matter. I told my republican friends long before the election that this could be as bad or worse than the great depression, and did they want their guy in office when everything hit the fan. The party in power would get painted with the failure, and that is what is happening. And with McCain it actually might have been worse. Palin would have been much better though.
I’m far from a fan of the incompetent empty suit currently in office, and I think that when all is said and done, history will remember him for making it worse, but it was gonna be REALLY bad, no matter what.
I don’t think our biggest problems will be economic, either. The economic problems are what eventually get us into things like WWII.
ping
I feel like crying.
Chris Wallace just told the Friends that if this number stays high this summer, they can forget about Deathcare—won’t happen. However, Debbie Wasserman-Shultz declared that the recent election shows America wants Obamacare, Dems stand for reform, Repubs are against it and they will have the votes by late Sat. afternoon. Mike Pence just laughed at her. I screamed at the TV, of course.
Just imagine how much worse it would be without Dear Leader’s stimulus plan!
They wouldn't be ignoring it if their chosen man-child weren't in the White House.
I just saw the numbers - U-6 unemployment is at 17.5%.
The unemployment rate has risen 5.6 percent since the Democrats took over congress.
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