Posted on 11/07/2009 4:34:40 AM PST by Schnucki
AMERICA'S unemployment rate pushed through the 10 per cent mark in October for the first time in 26 years.
The Labour Department said that 190,000 jobs had been lost in October, worse than the 175,000 expected by economists, pushing the unemployment rate to 10.2 per cent — the highest figure since April 1983.
The data is being watched closely as economists ponder whether the United States can sustain a recovery without government stimuli after emerging from recession in the third quarter.
Last week, figures revealed that gross domestic product (GDP) had risen by 3.5 per cent between July and September. This week, Labour Department figures showed that first-time claims for jobless benefits had fallen fell by 20,000, better than expected, to a seasonally adjusted 512,000 in the previous seven days.
(Excerpt) Read more at theaustralian.com.au ...
Welcome Back, Carter.
Hope and Change we can believe in
Obama says “The stimulus worked so well let’s do another one.”
But the President claims the stimulus created jobs. He wouldn’t lie, would he? (Snort)
Mr. niteowl77
The One and other marxists are happy. This means that more Americans are dependent on government. They love that.
Then I saw the prosperity grow and unemployment falling to unimaginable levels for 27 years until last year!!
We then experienced gas prices jump to $4.00+ within a short period of time that a huge part of the population could NOT afford to pay for their transportation!!!
Any connection to the burst of the financial bubble???
“THe data is being watched closely”
Would that be by any major new sources?
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