Unemployment 10.2% - W.C. Varones

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11.06.2009

Unemployment 10.2%

... and that's the official number that doesn't count those who have given up looking for work or are stuck in part-time jobs (the broader U6 is at 17.5%).

Bloomberg
:
Payrolls fell by 190,000 workers last month, compared with a 175,000 drop anticipated by the median forecast of economists surveyed by Bloomberg News, figures from the Labor Department showed today in Washington. The jobless rate gained from 9.8 percent in September and exceeded 10 percent for the first time since 1983.

But I thought if we passed Obama's $787 billion porkulus bill, unemployment wouldn't go over 8%!

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