Friday, December 03, 2010

Unemployment Rate Jumps to 9.8%

The economy added some jobs in November but not nearly enough to make up for either earlier losses or for the rising population. Last month came 39,000 new jobs. Furthermore the unemployment rate itself jumped to 9.8%, the highest amount since May.

“The economic situation is uncertain at best and steadily evaporating at worst, yet through all of this, there seems to be an alarming lack of urgency by the Democrats as they have refused to take meaningful and definitive action to address the uncertainty created by the expiring tax cuts,” said Rep. Darrell Issa (R-Calif.) “You would think that after the November elections, Democrats would have realized how out-of-touch and misdirected their policies have been.”

Furthermore wages are also stagnant. 'Recovery Summer' has officially ended.

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