Friday, November 6, 2009

Unemployment Now at 10.2 Percent

The unemployment rate has now entered double digits clocking in at 10.2 percent. To put this in the contexts of the last few months; after rising to %9.5, 'fake' falling to %9.4 (Berman Post: US Unemployment Drops to 9.4 Percent), rising to %9.7, and then rising again to 9.8%, unemployment is now at 10.2%.

To put that number in the context of the pre-stimulus projections;

Picture embedded below.


A proper reading of the chart will tell you that unemployment now is worse then what the Obama administration predicted it would be if the stimulus was never passed.

"The unemployment rate rose from 9.8 to 10.2 percent in October, and nonfarm
payroll employment continued to decline (-190,000), the U.S. Bureau of Labor
Statistics reported today. The largest job losses over the month were in con-
struction, manufacturing, and retail trade.

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