ADVERTISEMENT

In the midst of the longest recession in 80 years, the unemployment rate is the highest it has been in 26%.

From the New York Times:

The United States economy shed 190,000 jobs in October, and the unemployment rate reached a 26-year high of 10.2 percent, up from 9.8 percent in September, the Department of Labor said Friday in its monthly economic appraisal.

While the pace of the job losses has slowed significantly since the peak of the recession last winter, the unemployment rate, which measures the number of people actively seeking work, continues to climb, and economists do not foresee relief until well into next year.

Leave it to the NY Times to find something to spin.  The pace of the job losses has slowed significantly… It’s over 10%.  One in ten working adults are out of a job… chew on that for while.  Have you seen your paper’s want ads recently?  Pretty depressing.  This doesn’t include those who have had to settle for a part-time job or those who stopped looking all together.

I know people in that boat, so this number could be higher.  The simple fact is that this is further proof that the stimulus failed.  It was supposed to keep unemployment at 8%, but it hasn’t.  It continues to rise.  Actually Bloomberg notes the underemployment rate:

The so-called underemployment rate — which includes part- time workers who’d prefer a full-time position and people who want work but have given up looking — reached a record 17.5 percent from 17 percent in September.

But expect the White House to keep spinning the numbers.

HT: Memeorandum

Subscribe For Latest Updates

Sign up to receive stimulating conservative Christian commentary in your inbox.

Invalid email address
We promise not to spam you. You can unsubscribe at any time.
3 comments
  1. I’m one of them–still.

    Maybe I’ve given up looking because I’m certainly not spending every day looking for work. This is something that I’ve definitely never experienced in my entire career. There are spiritual ramifications of this for me that puts it all on a different plane altogether.

    All I know is, when I get a new job, I’m telling you: I don’t think I’ll ever complain or easily come home and say “I had a lousy day.” Just having a job would make it a good day.
    .-= Joe Chavez´s last blog ..Taking Up Your Cross =-.

Comments are closed.

You May Also Like

A Few Bytes to Eat From Around the Country: Alabama, Missouri, Arkansas

Video clips and news stories from around the country that might have…

Huckabee, Palin and the Tough Job of Governing

Being a governor is a tough job.  Mike Huckabee is taking all…

Terry Branstad Is An Excellent Choice for Ambassador to China

Shane Vander Hart gives seven reasons why President-elect Donald Trump made a good choice appointing Iowa Governor Terry Branstad to be Ambassador to China.

President Trump and Republicans Should Follow the Mellon Economic Plan

John Hendrickson: President Trump and Republicans in Congress should follow the example of Andrew Mellon who promoted tax cuts and fiscal discipline.