Unemployment rate leaps to 14-year high of 6.5%

[cal04]

Unemployment rate leaps to 14-year high of 6.5%
The U.S. unemployment rate jumped to a 14-year high of 6.5% in October as nearly a quarter million jobs were lost, the Labor Department reported Friday. U.S. nonfarm payrolls fell by 240,000 in October following a revised decline of 284,000 in September, which was the largest job loss in seven years. So far in 2008, a total of 1.18 million jobs have been lost, with 651,000 coming in just the past three months. The October employment report was much worse than expected. Economists thought the jobless rate would rise to 6.3% from 6.1% in September, and expected job losses of around 210,000 in October.
http://www.marketwatch.com/News/Story/Story.aspx?guid=%7BDFE78936%2DAE62%2D4070%2D8C0B%2D1060A43AAC62%7D

8:30 a.m.
U.S. 2008 unemployment rises by 2.8 million
8:30 a.m.
U.S. Sept. nonfarm payrolls revised to 284,000 loss
8:30 a.m.
U.S. Oct. alternative jobless rate rises to 11.8%
8:30 a.m.
U.S. 2008 payrolls fall by 1.18 milllion jobs
8:30 a.m.
U.S. Oct. average hourly earnings up 0.2%
8:30 a.m.
U.S. Oct. unemployment rate rises to 6.5%, 14-year high
8:30 a.m.
U.S. Oct. nonfarm payrollls fall 240,000 vs 210,000 expected



Unemployment rate leaps to 14-year high 6.5%
Payrolls fall 240,000 in October; September losses much worse than thought
updated
http://www.marketwatch.com/news/story/Unemployment-rate-leaps-14-year/story.aspx?guid=%7B14EA3B7E%2D71D9%2D4321%2D9404%2D93979272C8A1%7D

[Skittles]

1. the bush legacy will live for quite some time

yup

[nichomachus]

2. Double that figure and you might be in the ballpark

All government statistics are lies.

[OKNancy]

3. I bet it is higher.. especially the "under-employed"

My daughter has never had a full-time job, just part-time while in college.
She got her degree.......and is now working in the stock section at Target. $60,000 for the degree
and she is working at Target.