United States Jobless Rate Exceeds 10%; Highest in 26 Years
According to recent reports, the U.S. jobless rate has exceeded 10% for the first time in 26 years. The statistic has the rate at a high of 10.2%. With several focuses on agendas like health care and foreign issues, the Obama administration must take a hard look on how to improve conditions.
(Media-Newswire.com) - According to recent reports, the U.S. jobless rate has exceeded 10% for the first time in 26 years. The statistic has the rate at a high of 10.2%. With several focuses on agendas like health care and foreign issues, the Obama administration must take a hard look on how to improve conditions.
Statistics released from the United States Labor Department show employers cut 190,000 jobs in October.
Earlier reports about job losses in September dropped by 91,000.
The stats caught most experts off guard. One of the most striking numbers released shows 17.5% of those unemployed have stopped looking for employment signaling an alarming trend.
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