Unemployment Rate is Highest in 26 Years

By Kevin G. Hall

The nation's unemployment rate ticked up to 9.8 percent in September, its highest level in 26 years, as employers hastened their pace of layoffs, the government reported Friday in a worse-than-expected jobs report that was sure to quash any notion that the economic downturn is over.

//www.informationclearinghouse.info/article23615.htm



The Truth About The Economy

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Unemployment Rate Is Highest in 26 Years

Dean Baker, The Center for Economic and Policy Research: "The data in this report indicates that a turnaround in the labor market is not imminent. Continuing losses of jobs and declines in hours, coupled with stagnant or declining real wages, means that workers’ purchasing power is still falling. There are no further tax breaks scheduled to boost demand and state and local governments are cutting back and raising taxes to address budget shortfalls. The immediate future does not look good."

//www.truthout.org/100309A



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