Unemployment rate hits 10.2%, highest in 26 years

woman screaming

Yes, the statistics are that scary.

What a great headline to wake up to. More from the NYT :

The United States economy shed 190,000 jobs in October, and the unemployment rate reached a 26-year high of 10.2 percent, up from 9.8 percent in September, the Department of Labor said Friday in its monthly economic appraisal. […] Since the beginning of the recession in 2007, the number of unemployed Americans has increased by 8.2 million people, and the unemployment rate has risen by 5.3 percentage points.

But all is not lost. Some of us are underemployed: making some moolah with a part-time gig while salaried jobs are nowhere in sight.

The number of temporary workers grew by 34,000 — a significant gain that could indicate employers are beginning to expand their businesses again. […] The underemployment rate, which includes part-time workers, the jobless and those who have given up on searching, was 17.5 percent in October — the highest level since at least 1994.

At least these stats will help convince your parents you’re not a failure. It’s not you. It’s the economy.


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