Thursday, October 07, 2010

Unemployment Soars to 10.1%

 The unemployment rate has jumped over one-half of one percent in the last month. This comes with the news that private employers have cut around 30,000 jobs in the last thirty days. This is the largest loss in over a half of a year.

Gallup has been tracking the level of unemployment and in their most recent study found some very disheartening news: Things are getting even worse, believe it or not.

Despite the bailouts, despite the buyouts, despite the Stimulus the economy continues into its freefall. Furthermore, news has come that oil gained near $85 a barrel as the dollar continues to weaken. Higher oil prices will further lower the economy, despite the gains in Wall Street last month.

Now unemployment is at 10.1%, the highest since April of this year. Furthermore, underemployment is still dangerously high at 18.8%. These two factors are likely to slow the economic recovery even further.

 So what will the Democrats try now? What tricks do they have left to sell snake oil to the public before the wave elections next month? Sounds like they're running on empty, just like the economy.

Photo credit Gallup.

Remember to subscribe and comment!


  1. You forgot that the first line of the headline should be "Unexpectedly!"

  2. Wow, can you imagine that spending blindly in a recession hurt the economy? You'd have to be some sort of genius to predict that!

  3. You ask what the Dems will try? The question is, what haven't they? At this stage they've moved from gays jumping off bridges to evil rich hypocrites and illegal aliens:

    Anything to freak people out and demonize, so they don't stay home when it rains on that precious tuesday.