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Unemployment in U.S. Jumps to 10.2%, Payrolls Fall
Timothy R. Homan
Bloomberg News
Friday, November 6, 2009
Nov. 6 (Bloomberg) — The unemployment rate in the U.S. soared to a 26-year high of 10.2 percent in October and employers cut more jobs than forecast, underscoring why Federal Reserve policy makers say interest rates will remain near zero.
Payrolls fell by 190,000 workers last month, compared with a 175,000 drop anticipated by the median forecast of economists surveyed by Bloomberg News, figures from the Labor Department showed today in Washington. The jobless rate gained from 9.8 percent in September and exceeded 10 percent for the first time since 1983.
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Stocks slid and Treasury notes gained on concern the emerging economic recovery will cool as American consumers retrench. Fed policy makers this week said the economy will probably “remain weak for a time” and reiterated a pledge to keep borrowing costs low for an “extended period.”
“We will certainly have very bad payroll numbers in November and December,” said Harm Bandholz, an economist at UniCredit Global Research in New York who accurately forecast the size of the drop in payrolls. “We don’t foresee businesses going on a hiring spree anytime soon.”
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30 Responses to “Unemployment in U.S. Jumps to 10.2%, Payrolls Fall”
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November 6th, 2009 at 10:26 am
very cool and interesting film about martial law and gun rights and the bill of rights watch! the republic strikes back http://www.youtube.com/watch?v=-dqf88ZBnLM
zip Reply:
November 6th, 2009 at 8:45 pm
Wait a second, Tiny Tim and Obama told me the economy is in recovery. Besides, those were jobs Americans didn’t want to do.
November 6th, 2009 at 11:40 am
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November 6th, 2009 at 11:41 am
They speak of unemploymment,
United Bank and Trust In Adrian Mi,
Has told it’s employees that they are
Going to cut 1 million $ in pay roll!
Which will be more jobs down the shitter!
In Lenawee co there already is a 18.5%
Unemploynment rate, why make more
Familys suffer ?
The board of directors has not taken a pay cut!
If there is any person out there that calls themself
An American, please call 517 423-1756 & ask for Joe Willams
Just to let them know the outrage, and there still are
Some people in America that still care about each other!!
Thank you for your help!
Robin Hood
November 6th, 2009 at 12:46 pm
Yea!! The recovery has taken hold!!! Yea!!!
When unemployment gets to 25% pop the Champagne because the recovery will be complete!!!!
We should reward the richest of the rich with another 4 trillion!!!
Yea!!! Keep those money presses rolling!!
OH this is historic. The first triple digit unemployment recovery in the history of mankind!!!
Sentral Bankster Reply:
November 6th, 2009 at 5:35 pm
If “da gubsamunts’ will just fork over more loot, we can fix this. All we need is alot more money for the Wall Street thieves and liars.
November 6th, 2009 at 3:21 pm
http://www.cnbc.com/id/1584023.....1321270098
The news crew at the end of this clip clearly has no respect to the people out there that really want to work, they claim that it would create an incentive for the unemployed not to look for work. Boy i tell you how cruel are they?
November 6th, 2009 at 3:38 pm
People without jobs can go back to college and learn what they need to do to start a new job. Green jobs will pick up now and there are plenty of opporutnities to be had if they just get educated in this field of opportunity.
If anyone out there is still smoking and working then there jobs should be cut at once and forced out into the streets where they can smoke there filthy lungs out while us good people can have there jobs instead.
This is the only want to bring justice and freedom to this world for all and then those who deserve jobs will have them.
Smokers make me want to puke.
pitofdoom Reply:
November 6th, 2009 at 4:37 pm
Green is your credit pending carbon death credit!!
If there’s profit in a thing greedy capitalist would have sucked it up,
there is no “We the people” profit in Green just Corp/Govt Tyranny profit!!
wildcat Reply:
November 6th, 2009 at 7:07 pm
We are doing that in the UK. Now there is 10% graduate unemployment (up 10% each year).
http://www.guardian.co.uk/mone.....s-increase
mcnamara Reply:
November 6th, 2009 at 9:53 pm
what do you have against us smokers?…I work extra time to make up for my few smoke breaks. you sound like one of those bunny-hugging, artsy-fartsy, weenies. Mind your own business.
It’s assholes like you that make me want to puke…right after I finish this tasty smoke…
November 6th, 2009 at 4:39 pm
“We the people” ain’t felt shit yet, the system died around 1979,
it takes a while for a Great Nation to fall, but on the head of a pin “We” stand,
“We’re” just waiting for Wisdom to flush and down the sucking sound many go….
November 6th, 2009 at 6:17 pm
Patti- What the hell does smoking have to do with a news anchordesk morons that critise the unemployed?
November 6th, 2009 at 6:20 pm
There is nothing more that makes me sick is a person who thinks just like AL Gore
pitofdoom Reply:
November 6th, 2009 at 6:32 pm
Who might be this Oh-Obama-one, bringing forth our Death Care magic,
so “We” may bask in the Al Gore Carbon Credit green refunding rainbow.
I’m just a ask’en??
November 6th, 2009 at 6:25 pm
As far as i’m concerned here all of you so call Green people who want to tax the crap out of us should be on a one way trip to ur-anus so you can smell the same crap your shoveling.
November 6th, 2009 at 8:25 pm
Thank God we have Jimmy Carter, I mean Barack Obama for our president or this would really be bad news!
zip Reply:
November 6th, 2009 at 8:51 pm
When Carter was in office time were still good. America still had an industry.
That industry has been ripped out of America’s chest while still beating. Our lose is Mexico and China’s gain. Soon Norte Americanos will be heading South for a job and a country on the up swing.
pitofdoom Reply:
November 6th, 2009 at 8:55 pm
Well I’ll be dying ugly in the USA I guess.
November 6th, 2009 at 10:48 pm
THESE NUMBERS ARE INCORECT AMERICA, THE REAL NUMBERS ARE AROUND 17.5% AMERICA .
STIMULIS PLAN WAS A SCAM AND DID ALMOST NOTHING TO PERMOTE NEW JOBS !
THERE NEED TO BE AN STUDY INTO WHERE ALL THAT TREASURY MONEY WENT ?
JUST TO SAY YOU HAVE BEEN DUPED IS NOT ENOUGH AMERICA ! DO SOMETHING !
IF THERE WAS A CRIMINAL ACT SOMEONE HAS TO PAY FOR IT ! EVERYONE OF THEM ?
YOU MUST NIP THIS IN THE BUD BEFORE IT GOES ANY FURTHER AMERICA ?
BUT TO DO THIS YOU MUST HAVE A GOVERNMENT THAT ISN’T CONTROLLED BY THE DNC AND IT’S COMUNIST MEMBERS !
TO DO THAT YOU VOTE VOTE THE SWINES OUT OF PUBLIC OFFICE NOW AMERICA !
IF YOU KNOW OF ANY GOP MEMBERS WHO HAVE SUPPORTED THE SWINES THAY HAVE TO GO ALSO AMERICA ! WRONG IS WRONG AND ONLY RIGHT IS RIGHT AMERICA ?
RESTORE THE GOVERNMENT THAT THE FOUNDING FATHERS GAVE YOU AND THROW THE COMUNIST UNDER THE TRAIN AMERICA !
FIGHT BACK AND RSTORE YOUR GOVERNMENT AND NEVER MAKE THE SAME STUPID MISTAKE AGAIN AMERICA !
IF IT DOSEN’T SOUND RIGHT, IT MUST BE WRONG AMERICA !
REMEMBER THE WORD OF ONE OF YOUR FOUNDING FATHERS: ” GIVE ME LIBERTY OR GIVE ME DEATH AMERICA !
GOD BLESS AMERICA !
abc Reply:
November 7th, 2009 at 8:27 pm
Ever heard of grammar?
November 7th, 2009 at 7:47 am
From what I understand, our company is taking ANOTHER stab at our ‘benefits’. (I probably shouldn’t mention the name, could be bad for [my] business!)
November 7th, 2009 at 8:30 am
The jobless numbers are shocking, they are over 10%, and expected to rise and stay that way for decades. Helping Americans get back to work is a national necessity. It can be done by jump starting the war on drugs. 15 million drug enforcement agents can be hired. Their swat teams can bust drug dealers and close down meth labs all over the nation. Even glue sniffers would not escape their watchful eyes.
pitofdoom Reply:
November 7th, 2009 at 1:59 pm
Does that come with a badge saying “agent of change”??
November 7th, 2009 at 2:48 pm
I believe the news media when they say it is a “jobless recovery”. That simply means that prices for things like cars, houses and stock investments will start rising again so that they are worth money which is a good thing. Meantime some people who are not working will just have to receive unemployment benefits until new jobs come in from the health care bill and the global warming bill being rushed through Congress to stimulate the economy.
Once those two things get in place then many new government jobs will follow in the fields of healthcare and making the US green.
If this happens along with the general increase in prices across the board, then everything we currently each own will be worth more dollars than in the past and this alone will bring us wealth.
That is why it is called a “jobless recovery” and for good reason – we will recover and see higher prices for the items we currently own, such as cars, stocks and our homes – but the new government jobs from healthcare and greening of the country will start up later on and everyone will rise together.
Another thing that will come from this is cost cutting because we definitely do need to force people to stop smoking already and make tobacco illegal along with making it illegal to be overweight and prohibiting alcohol as we did in the 1910’s, all of which will save much of our budget costs as well as sign our military over to NATO and let the UN pick up the cost on that as well as keep us out of wars in the future.
Obama is leading us to better times in the long run but we all have to be patient as he works hard getting us there.
pitofdoom Reply:
November 7th, 2009 at 4:34 pm
Please research green BTU’s Vs oil, it’s not even close nor scaleable!
November 7th, 2009 at 7:06 pm
NP…WTF ARE YOU SMOKIN?
November 7th, 2009 at 7:07 pm
be patient..while many many kids are in shelters—your dollar is just about worthless..and your sons are overaseas comitting genocide…yeah just e patient…and eat another bowl of shit..
November 8th, 2009 at 1:25 pm
Ca fait quelques fois que je viens lire tes articles. bon c’est special, mais je dois avouer que j’aime bien.
November 9th, 2009 at 5:27 am
J’ai l’impression d’avoir d