Jobless Rate Worse Than At Any Time Since 1983

Ken AshfordBloggingLeave a Comment


The Labor Department said Friday that jobless rate rose to 10.2 percent, the highest since April 1983, from 9.8 percent in September. The economy shed a net total of 190,000 jobs in October, less than the downwardly revised 219,000 lost in September, but more than economists expected.

Well, we knew that it would hit 10% for nearly a year now.  And now it has.  And we know that it will be 10% for a few months.

DOW is up over 10,000 again.  Wall Street bonuses are going up this year too.  Socialism is actually looking kind of good right about now.