US UNEMPLOYMENT is now at 10.2%
How is that Hope & Change that Obama promised you now, one year later? Are you better off today than you were one year ago? Don’t ask the millions of employees who lost their jobs. Unemployment hits a 26 year high. For the first time since 1983 unemployment is over 10%.
Nearly 16 million people can’t find jobs even though the worst recession since the Great Depression has apparently ended.
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.
With unemployment still rising in the United States, employers still cutting jobs and not hiring; the Democrat controlled Congress looks to pass Obamacare and Cap & Trade that will all but destroy the economy. What are these people thinking? Hey Baarck, where are those millions of jobs promised and unemployment holding at 8% if stimulus was passed? So what is this administration doing to create jobs other than blaming Bush?
Just a reminder to Obama and his minions, the exit polling in NJ and VA said that the economy is the number one issue.
In October, the unemployment rate rose to 10.2 percent, the highest since April 1983, and nonfarm payroll employment continued to decline (-190,000). The largest job losses over the month were in construction, manufacturing, and retail trade.
On news of the poor job numbers, the stock market fell this morning. According to the Labor Department, U.S. unemployment rose by more than expected in October and employers cut more jobs than the so-called experts forecast. But, we were told that the recession was over?
Here is the damning poll for Barack Hussein Obama … the tide is turning and the trend has started to blame Obama for the bad economy, not GWB. 45% of voters now blame Obama for the bad economy and 49% blame Bush. However, for Obama that is up from 37% a month ago. Obama owns this economy and blaming other will not work any more. What will happen to The One’s poll numbers when a majority of people blame Obama for the now double digit unemployment?
Setting off the decline, the Labor Department said U.S. unemployment rose by more than expected in October and employers cut more jobs than forecast, a sign the labor market continues to struggle as the economy emerges from its deep recession. The unemployment rate, calculated using a survey of households as opposed to companies, rose by 0.4 percentage point to 10.2%, the Labor Department said Friday. Economists surveyed by Dow Jones Newswires had forecast an increase to 9.9%.
Nonfarm payrolls fell by 190,000 last month, with the largest job losses in construction, manufacturing, and retail trade. Economists had expected a 175,000 decrease.