Official U.S. Jobless Rate: 10.2 Percent
November 6th, 2009Via: AP:
The U.S. jobless rate unexpectedly jumped to a 26-1/2-year high of 10.2 percent last month, adding to pressure on the Obama administration to do more to tackle unemployment even as signs of recovery mount.
The Labor Department said on Friday that employers cut 190,000 jobs in October, more than the 175,000 markets had expected but fewer than the 219,000 lost in September.
Now multiply by 2 and factor in the fact that a good percentage of the job-holders are part-timers, and that the vast majority of the rest are underpaid.
The New York Times seems to have grown a small nut and called bullshit on the official number by instead offering a far more believable 17.5 % figure. A tad embarrassing for Stooge, er Commander in Chief, Obama.