Unemployment Hits New 26 Year High
November 6th, 2009 | 
Author: National Unemployment Rate Hits 10.2% – Highest Rate Since 1983
WASHINGTON (MarketWatch) – In another sign that workers are being left out of the budding economic recovery, the U.S. unemployment rate climbed to 10.2% in October, topping the 10% mark for the first time in 26 years.
Nonfarm payrolls dropped by a seasonally adjusted 190,000 in October, bringing to total number of jobs lost in the recession to 7.3 million, the Labor Department reported Friday.
It was the 22nd straight monthly decline in payrolls.
Large losses were seen in manufacturing, construction and retail employment. Health care and temporary-help agencies added jobs. Read the full government report.
Unemployment rose by 558,000 to 15.7 million, the government said. Of those, 5.6 million had been out of work longer than six months, representing a record 35.6% of the unemployed.
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