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U.S. Unemployment Rate Hits 10.2%, Highest in 26 Years

Posted on November 7, 2009 by Kendall Harmon

The American unemployment rate surged to 10.2 percent in October, its highest level in 26 years, as the economy lost another 190,000 jobs, the Labor Department reported Friday.

The jump into the realm of double-digit joblessness ”” from 9.8 percent in September ”” provided a sobering reminder that, despite the apparent end of the Great Recession, economic expansion has yet to translate into jobs, leaving tens of millions of people still struggling.

“The guy on the street is going to ask, ”˜What recovery?’ ” said Stuart G. Hoffman, chief economist at the PNC Financial Services Group in Pittsburgh. “The job market is still in reverse.”

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Posted in * Economics, Politics, Corporations/Corporate Life, Economy, Labor/Labor Unions/Labor Market, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--

4 comments on “U.S. Unemployment Rate Hits 10.2%, Highest in 26 Years”

  1. Ad Orientem says:
    November 7, 2009 at 7:36 am

    Bull [CENSORED]! The unemployment rate is around 18%. I really wish the press and media would stop drinking the cool aid being served by this (and every preceding) administration with their cooked statistics.

  2. David Keller says:
    November 8, 2009 at 12:55 am

    #1–Read this morning’s NY Times. Thay say 17.5%.

  3. Ad Orientem says:
    November 8, 2009 at 1:03 am

    😀

  4. Robert Dedmon says:
    November 8, 2009 at 5:17 am

    So, Hope + Change (you can believe in) = 10.2% ?