muckmakers
Unemployment Hits 14 Year High
Via the NY Times:
Squeezed by tight credit and plunging spending power, the American economy is losing jobs at the fastest pace since 2001, and the losses could accelerate to levels not seen since the deep recession of the early 1980s.
Employers shed 240,000 more jobs in October, the government reported Friday morning, the 10th consecutive monthly decline and a clear signal that the economic slowdown is troubling households and businesses.
The fact that almost a quarter million more people are out of work now as compared to the start of the month is staggering. 90,000 manufacturing jobs were lost. Which means… more imports, more dependence on foreign countries, more natial debt. Good luck, Mr Obama.
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