We knew it was coming but it’s still hard to fathom. Unemployment in the US is at 10.2%. Hope & Change is officially in a downward spiral. From Foxnews.com:
Nearly 16 million people can’t find jobs, the Labor Department said Friday, pushing the unemployment rate over 10 percent for the first time since 1983.
The Labor Department said the economy shed a net total of 190,000 jobs in October, less than the downwardly revised 219,000 lost in September.
But the loss of jobs exceeded economists’ estimates. It’s the 22nd straight month the U.S. economy has shed jobs, the longest on records dating back 70 years.
Counting those who have settled for part-time jobs or stopped looking for work, the unemployment rate would be 17.5 percent, the highest on records dating from 1994.
The jobless rate rose from 9.8 percent in September.
Move over Jimmy Carter. There’s a new sheriff in town.