US unemployment rate breaks ten per cent

There may be signs that the Great Recession in the US is on the wane, but employers didn't get the memo and another 190,000 people lost their jobs in October. According to this morning's jobs report (pdf) from the Bureau of Labor Statistics, the unemployment rate in the States rose to 10.2 per cent through the end of October, …

[Anonymous Coward]

Recession was over financially ages ago

but not for employment.

See, the bail out sorted only the financial sector, and did so at the detriment of everyone else.

Expecting the banks to be altruistic is incredibly naive, and that is what Labour expected.

Labour has put together all the ingredients for a civil war. The bail out of the economy should have been money directly in the hands of the people, an even split across the entire populace, or better still an inverse means tested one.

Banning smoking has also not helped, it has slowed business, it has put a lot of pubs and restaurants out of business, ironically the one place where it should have been banned, the Houses of Parliament it wasn't.

History will look back at the Labour Reign of Terror and label it probably as the most selfish, hypocritical and incompetent time of the UK, it is a disgrace.

[breakfast]

Good grief!

At this rate there will soon be more people unemployed in the USA than there are in prison!

Scary times indeed.

[Jimmy Floyd]

Anyone else...?

...still trotting out the frankly ludicrous belief that the greatest financial crisis the world has seen in 80 years has been cleverly managed and beaten?

'Cos they're muppets if they are...

[Neil Hoskins]

But Surely Not

According to Alan Sugar, it's all just a naughty plot, being cooked-up by the press. These figures are clearly made up... or true but should be censored... or something.

[Anonymous Coward]

Tens of millions...

Tens of millions of people in the U.S. are jobless but life is good on Corruption Hill for the politicians who steal as much as they can.

[Anonymous Coward]

10%

One in 10 not working and thus having no access to healthcare. I wonder when the civil unrest is going to start?

<------ Flames, because something is gonna burn!

[BlueGreen]

AC 14:58

> History will look back at the Labour Reign of Terror and label it probably as the most selfish, hypocritical and incompetent time of the UK

You have a short memory or are a tory sock-puppet.

Or just young.

[Destroy All Monsters]

"the bail out sorted only the financial sector"

Actually not. Bank closures are still ongoing.

After the "printing money to prop up an inflating bubble does not create a healthy economy" shocker, we bring you the amazing finding that the sky is indeed blue. After this messge.

[h4rm0ny]

Over?

People think the recession is over in the financial sector? At the time of posting this, the exchange rate between the US dollar and the Euro, is, wait for it... 1 to 1. Exactly!

Recession, I don't know. But the US is in trouble. The only things that are going to help employment in that country are other countries investing in it due to the pitiful strength of the dollar compared to the high numbers of educated people available, or a revolution.

[Eduard Coli]

Has not stopped some

10.2 percent and yet Mr. Gates will still go to Washington to get the Visa cap removed or at least lifted again.

The Department of Labor will still reserve jobs for foreign workers.

The multinationals will still be tariff free while they outsource from ceiling to floor while paying out obscene bonus and salary to the very top.

[Eddy Ito]

Shock, Sarcasm

Billions to keep CIT Group, GM and Chrysler out of bankruptcy. Now unemployment breaks over 10%. Yeah, this is going well. Then again, what did we expect when 2009 problems are met with 1929-1939 solutions that didn't work then. Hey, the civil engineers and ditch diggers are working overtime so it must be... something.

[JC 2]

Nothing Good Will Happen In the US

... till we recognize that you can't have half the work force feeling they are too good to roll up their sleeves and get some work done while watching the other half do that work. The US has become a nation where logic be damned, buzz words and legal threats dominate business models.

[shawnfromnh]

sales are up

Sure sales are up but that doesn't mean more jobs, unless you work in China. This recession is because of a fundamental problem that you cannot import a huge amount more than you export for long without repercussions. Now this lower unemployment rate is the repercussion and considering the US is a consumer based economy this is a huge problem. The jobs won't come back till the sales come back and the sales won't come back till people have more money so it's basically a stalemate till the people with the money get a clue and start building factories in the US again. Now if the White House would get off their ass and renegotiate GATT or just get rid of it that would be the most effective way to get employment jump started again since we could then use large tariffs and quota's to restrict imports and stimulate domestic business creation. All countries with high labor rates compared to the global average need to do this to protect their job base and in doing that their consumer and tax base.

Everything is connected even though sometimes loosely in a countries economy and the politicians need to recognize this and use this knowledge when drafting laws and trade treaties to keep domestic economies stable and consumers employed.

[Kurt 4]

Didn't Obama just create jobs?

That's funny then why did Obama say this on October 31 in his weekly address.

"it is clear that the Recovery Act has now created and saved more than one million jobs."

What a bleeping liar!!! The only thing that's clear is that this administration is complete BS.

http://www.whitehouse.gov/the-press-office/weekly-address-president-obama-says-recovery-act-creating-jobs-and-strengthening-ec

[TimNevins]

The BLS Office has been discredited

BLS figures are always deliberatley skewed in favor of the Govt.

Here are the real statistics before being massaged by the Govt.Find out why.

http://www.shadowstats.com/

[wv9e]

You have it made???

There are no readily available statistics on how many people work for the government, the US's

largest employer, however, in Wisconsin it was just shown that it takes 10,000 employees to keep

22,000 inmates in prison and this fact slipped out as fools whined about prisoners getting flu shots before welfare rats. We need our own version of Guy Fawkes... anyway the fool in the white house tried to tell us he created jobs whereas the truth is simply that not so many were lost.

What a place.