Friday, November 6, 2009

Unemployment Hits 10.2%

The Bureau of Labor Statistics released their report today showing an increase in unemployment from 9.8% to 10.2% for the month of October. This increase appears to be across the board except for Health Care workers. Conveniently, the government does not count the 808,000 workers that are totally discouraged, cannot find a job and have dropped out.

Since construction and manufacturing jobs are still dropping, I guess we can safely say the $900 billion emergency stimulus package is not working, but fret not, only $200 billion of the "EMERGENCY FUNDS" have been spent on worthless, non-job producing projects. The rest of the "EMERGENCY FUNDS" is still to be spent, sometime in the future, on worthless, non-job producing projects.

Read the full report here.

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