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Unemployment reaches 26-year high
Associated Press
November 6, 2009 - 2:50pm
WASHINGTON — The unemployment rate has surpassed 10 percent for the first time since 1983 and is likely to go higher.
Nearly 16 million people can't find jobs even though the worst recession since the Great Depression has apparently ended. The Labor Department says the economy shed a net total of 190,000 jobs in October, less than the downwardly revised 219,000 lost in September.
But the loss of jobs exceeded economists' estimates. It's the 22nd straight month the U.S. economy has shed jobs, the longest on records dating back 70 years.
Counting those who have settled for part-time jobs or stopped looking for work, the unemployment rate would be 17.5 percent, the highest on records dating from 1994.
The jobless rate rose from 9.8 percent in September.
Unemployment is getting worse in year. Banks won't talk to you, and credit card companies don't want you using them if you are drawing an unemployment check, but you can get payday loans. Payday loans lenders are technically forbidden from discriminating for any reason, as per Federal law (as are all lenders) but honestly, you shouldn't get a payday loan if on unemployment. That's when you should tighten the belt until you find a job – but if you absolutely MUST, please be responsible. Payday loans lenders are just as hard up for business as banks are these days, and even if it is only short term loans a person is looking for, if you're on unemployment you should pare back expenses to the absolute barest minimum.
Aiyana
3 months agoPost new comment