Unemployment: Proof that Foster’s stimulus has failed

The national unemployment rate has broke into double-digits and stands at a 26-year high of 10.2%. This troubling news comes as Democrats, including Bill Foster, continue with their absurd claims that the stimulus package is working:

“’I am pleased that the stimulus continues to spur economic activity within the 14th District, and helps maintain our area leadership in high technology,’ Rep. Foster said.”  (Bill Foster Press Release, http://foster.house.gov/News/DocumentSingle.aspx?DocumentID=141294, August 5, 2009)

Jobless rate tops 10 pct. for first time since '83

Unemployment rate tops 10 percent for first time since 1983; 190,000 jobs lost in October

Christopher S. Rugaber

Associated Press

November 6, 2009

http://finance.yahoo.com/news/Jobless-rate-tops-10-pct-for-apf-563122944.html?x=0&.v=8

WASHINGTON (AP) -- The unemployment rate has surpassed 10 percent for the first time since 1983 -- and is likely to go higher.

Nearly 16 million people can't find jobs even though the worst recession since the Great Depression has apparently ended. The Labor Department said Friday that the economy shed a net total of 190,000 jobs in October, less than the downwardly revised 219,000 lost in September. August job losses were also revised lower, to 154,000 from 201,000.

But the loss of jobs last month exceeded economists' estimates. It's the 22nd straight month the U.S. economy has shed jobs, the longest on records dating back 70 years.

Counting those who have settled for part-time jobs or stopped looking for work, the unemployment rate would be 17.5 percent, the highest on records dating from 1994.

The jobless rate rose from 9.8 percent in September...

Comments

[bondwooley]

Since the government can’t solve the problem, it’s time the people start facing unemployment with their own ingenuity:

http://bit.ly/ozqT6

(satire)