…and that number doesn’t count those who have given up looking for work or are stuck in part-time jobs. It includes only those who are actively seeking work.
Indeed, the broader rate is at an astonishing 17.5%.
According to 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%. After all, Obama promised!
Do you remember this chart, shown repeatedly by the Obama administration as evidence that if we failed to pass the messiah’s economic “stimulus” bill, unemployment would soar to 9% by the first quarter 2010, but if we passed his massive spending bill unemployment would peak at a mere 8% in the third quarter 2009 and then drop continuously as more and more Americans returned to work?
Well, we let our leaders pass Obama’s spending bill, and unemployment shot up to 10.2%. That’s an extra point and a half higher than what Obama claimed unemployment would be if we didn’t pass his bill.
Another 190,000 Americans out of work. Obama’s “green shoots” are turning brown.
Can we ever believe anything this man says?