Unemployment Rate Rises To 9.8 Percent; U.S. Economy Shed 263,000 Jobs In September
CHRISTOPHER S. RUGABER
10/ 2/09
WASHINGTON — The unemployment rate rose to 9.8 percent in September, the highest since June 1983, as employers cut far more jobs than expected. The report is evidence that the worst recession since the 1930s is still inflicting widespread pain.
Persistently high unemployment could weaken the recovery as consumers, concerned about their jobs and incomes, restrain spending. Consumer spending accounts for about 70 percent of the nation's economy.
The Labor Department said Friday that the economy lost a net total of 263,000 jobs last month, from a downwardly revised 201,000 in August. That's worse than Wall Street economists' expectations of 180,000 job losses, according to a survey by Thomson Reuters. the rest
posted by Pat Dague @ 9:26 AM
1 comments
1 Comments:
Obama has nothing to do with the lay offs most of the states didn't accept the stimulus money and those states that chose not to take the money are the very states that are still suffering, Florida is a big example they rather raise taxes on people who are already living paycheck to paycheck but hey that's just my opinion so study your facts before you judge, and remember Bush started the mess.
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