For the first time...in 26 years, unemployment hit a double digit figure. More than 558,000 jobs lost in Oct. The rate jumping from 9.8 to a stunning 10.2%!!
via: "U.S. Dept of Labor Bureau of Labor Statistics"
"The unemployment rate rose from 9.8 to 10.2 percent in October, and nonfarm payroll employment continued to decline (-190,000), the U.S. Bureau of Labor Statistics reported today. The largest job losses over the month were in construction, manufacturing, and retail trade.
In October, the number of unemployed persons increased by 558,000 to 15.7 million. The unemployment rate rose by 0.4 percentage point to 10.2 percent, the highest rate since April 1983. Since the start of the recession in December 2007, the number of unemployed persons has risen by 8.2 million, and the unemployment rate has grown by 5.3 percentage points. "http://www.bls.gov/news.release/empsit.nr0.htm
VIA AP:
"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."
Now remember my lovely little wankers..the mighty barack obama stimulus..you know..the one that was so pork laden? The one that was supposed to stave off unemployment at 8.0%. The one that unless passed IMMEDIATLY without delay, there would be disaster?
The same stimulus bill that no, NO republican voted for because they said it would neither help stave off job loss NOR help the economy due to its wasteful spending..
Well.....10 months after that was put into effect...we are now at 10.2% unemployment.
Now even with the elections of last tuesday where the people sent a clear message to all dems including webster prez...they stand ready to shove this obama care healthcare bill through.
If you go back and look at my posts..you'll see I was right all the way through. Hey Robo and countsy? You out there? (of course you are)
The dems are going to shoot themselves right in the big fat fanny...
That is IF the American public continue to wake up. And judging from the approval ratings for obama care....
It looks like that will be the case.
