Unemployment rate rises above 10% ; Obama signs jobless benefit extension -- latimes.com
The unexpectedly sharp increase in the unemployment rate, from 9.8% in September, came as employers dropped 190,000 workers from their payrolls last month. That was larger than the 175,000 job losses that most forecasters were expecting for the month, and it underscored just how dire the labor market remains despite the recent upturn in the nation's economic output.
The report did offer glimmers of hope. Government statisticians said job losses in September and August were a combined 91,000 fewer than previously estimated, and the latest month continued a trend of moderating job reductions since an average of nearly 700,000 positions were cut monthly in the first quarter. Moreover, employment in the temporary-help industry, which is considered a harbinger of broader hiring, has begun to grow again.
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1 comment:
Since Congress is inept, we the people have to face joblessness with our own ingenuity:
http://bit.ly/ozqT6
(satire)
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