The unemployment rate hit its grimmest milestone yet, soaring above 10% for only the second time since the Great Depression.
The Bureau of Labor Statistics reported on Friday that the unemployment rate had reached 10.2% in October, up from 9.8% in September. The number was worse than expected–economists had expected the rate to rise to only 9.9%.
Then it talks about 190,000 jobs lost in September, which to Forbes, is a ‘slight improvement’.
Improvement over what? The economy is just where the marxists and George Soros want it to be..sinking like a rock.
I said in the headline that unemployment has skyrocketed over 10.2% because there are still people out there who haven’t found work, yet their unemployment benefits have run out. The numbers that are being touted are only the numbers of those who are collecting unemployment.
But it does point this out:
The headline unemployment rate does not count people who have given up on the job market altogether, so-called “discouraged workers” and “marginally attached workers.” Including these people, many of whom clearly consider themselves unemployed, the unemployment rate is 11.6%. Including workers who want full-time jobs, but can only find part-time work, the rate of underemployment reached a new high as well, rising to 17.5% from 17.0%.
Those are really conservative numbers; the real situation is far worse.
But of course they’re all about telling people it really isn’t all that bad.
After all; we have the Messiah in office, what more could we want?
