10.2% Unemployment

[Towntalk]

Today's New York Times 11/7/09

Broader Measure of U.S. Unemployment Stands At 17.5%

http://www.nytimes.com/2009/11/07/business/economy/07econ.html?_r=1&hp

With the release of the jobs report on Friday, the broadest measure of unemployment and underemployment tracked by the Labor Department has reached its highest level in decades. If statistics went back so far, the measure would almost certainly be at its highest level since the Great Depression.
In all, more than one out of every six workers — 17.5 percent — were unemployed or underemployed in October. The previous recorded high was 17.1 percent, in December 1982.

The rate is highest today, sometimes 20 percent, in states that had big housing bubbles, like California and Arizona, or that have large manufacturing sectors, like Michigan, Ohio, Oregon, Rhode Island and South Carolina.


CAN ANYONE SAY DEPRESSION?

[Rick Rowlands]

How is that hope and change working out for you?

Right now I am HOPEful that he can be kept under control until we can CHANGE him out!

[ytowner]

OOOOOOO---- BOMMMMMMMM-------AHHHHHHH
[imagine the NBC jingle and do it for O-BAM-A]

[AllanY2525]

I wonder how many of the temporary jobs are holiday staff positions...

All of the stores down here in Maryland are starting to hire for the season.

[Rick Rowlands]

No, nobody is expanding their businesses.  Temps are usually hired for the Christmas shopping season.

[Towntalk]

The New York Times is reporting that unemployment in the United States has hit the  10.2% mark, the highest in 26 years, and shed 190,000 jobs in October.

The biggest losses came in the construction, manufacturing and retailing sectors. Health care companies added 29,000 jobs to their payrolls, and the number of temporary workers increased by 34,000 — a significant gain that could indicate employers are beginning to expand their businesses again.