Friday, November 6, 2009

Today's labor report

According to the WSJ, "U.S. unemployment rose by more than expected in October to hit its highest level in more than 26 years and employers cut more jobs than forecast, a sign the labor market continues to struggle as the economy emerges from its deep recession. The unemployment rate, calculated using a survey of households as opposed to companies, rose by 0.4 percentage point to 10.2%, the Labor Department said Friday.

While this will no doubt create a sense of morbid euphoria for certain Republican types who will be quick to place all the blame on the Obama Administration, might I suggest they compare the bars to the left of February 2009 on the graph against those appearing to the right. Once the high wears off...grab a mop!

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