BobBarney
Moderator
Registered: 10/19/08
Posts: 2,234
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Reply with quote | #1 |
The unemployment rate in the U.S. soared to a 26-year high of 10.2 percent in October and employers cut more jobs than forecast, underscoring why Federal Reserve policy makers say interest rates will remain low until the labor market recovers. 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. Companies such as Johnson & Johnson are cutting staff on concern the emerging recovery will be cut short as American consumers retrench. Fed policy makers this week said the economy will probably “remain weak for a time” and reiterated a pledge to keep borrowing costs low for an “extended period. |
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EdithWatts
Registered: 10/21/08
Posts: 244
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Reply with quote | #2 |
Even FOX NEWS has bought off with the idea that the economy is getting better. I don't see that being true at all. The real unemployment number is probably around 15-20%.
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HappyMammaof2
Registered: 10/24/08
Posts: 832
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Reply with quote | #3 |
Whatever the exact number... all I know is that more and more people I know are without work and there is NO work to be had.
This is bad...all those people are now on unemployment which is eating up money that's not there. Talk about a national burden! I just don't see it getting better any time soon. THAT is scary!
Third world country, here we come. 
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"Some newstories may seem insignificant, until you take a look in the Bible." Irvin Baxter
"All scripture [is] given by inspiration of God, and [is] profitable for doctrine, for reproof, for correction, for instruction in righteousness: That the man of God may be perfect, throughly furnished unto all good works." 2 Tim 3:16-17 |
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