Unemployment Rises to 10.2%

Just in this morning from BLS:

"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."

"In October, the number of unemployed persons increased by 558,000 to 15.7
million. The unemployment rate rose by 0.4 percentage point to 10.2 percent,
the highest rate since April 1983. Since the start of the recession in
December 2007, the number of unemployed persons has risen by 8.2 million,
and the unemployment rate has grown by 5.3 percentage points."

AND....THE MANCESSION CONTINUES:

"the unemployment rates for adult men (10.7 per-
cent)"

We were assured that the stimulus bill that was passed earlier this year would keep unemployment at 8% and save 3 million jobs. There's been a loss of 3 million jobs since then. You sure have to love keynesian solutions....