Friday, November 6, 2009

Unemployment climbs to 10.2%

From the 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 con- struction, manufacturing, and retail trade.
Household Survey Data
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. (See table A-1.)
Among the major worker groups, the unemployment rates for adult men (10.7 per- cent) and whites (9.5 percent) rose in October. The jobless rates for adult women (8.1 percent), teenagers (27.6 percent), blacks (15.7 percent), and Hispanics (13.1 percent) were little changed over the month. The unemployment rate for Asians was 7.5 percent, not seasonally adjusted. (See tables A-1, A-2, and A-3.)
This is the highest unemployment rate in the United States since April of 1983.  But you wouldn't know it, by watching the Congress and the President.  Nancy Pelosi is determined to ram her health care legislation down our throats this weekend.  Barbara Boxer allowed the job-killing Cap and Trade legislation to pass through her committee yesterday without a single Republican vote. The President is attending the White House Tribal Nations conference and planning a trip to China to talk about trade and climate change.  Meanwhile, General McChrystal waits for a response to his troop request, and 15.7 million Americans are unemployed.

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