Posted by
Catmman on Friday, November 06, 2009 9:32:56 AM
At least Obama has a super-awesome HBO documentary out about himself.
Unemployment hit double digits
for the first time in 26 years as more than 558,000 lost jobs in
October. The jobless rate went from 9.8% to 10.2%, a leap that
quadruples the increase from August to September...
And
this:
WASHINGTON – The unemployment rate has surpassed 10 percent for the first time since 1983 — and is likely to go higher.
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.
More
here.
We're officially off the chart as
this graph indicates.
The stimulus was so effective it failed to 'save or create' another 558,000 jobs last month. No word yet if this news will have any effect on Obama's tee time this weekend...