- Unemployment rate rises above 10%; Obama signs jobless benefit extension, By Don Lee, November 6, 2009, Los Angeles Times: “As the nation’s unemployment rate surged to 10.2% in October, reaching double digits for the first time in 26 years, President Obama signed a measure today providing additional aid for the jobless as well as expanding and extending a home buyer tax credit to help spur economic growth. ‘The need for such a measure was made clear by the jobs report we just received this morning,’ Obama said at the White House. He called the Labor Department figure released today ‘a sobering number that underscores the economic challenges that lie ahead.’ The unexpectedly sharp increase in the unemployment rate, from 9.8% in September, came as employers dropped 190,000 workers from their payrolls last month. That was larger than the 175,000 job losses that most forecasters were expecting for the month, and it underscored just how dire the labor market remains despite the recent upturn in the nation’s economic output…”
- U.S. unemployment rate hits 10.2%, highest in 26 years, By Peter S. Goodman, November 6, 2009, New York Times: “The American unemployment rate surged to 10.2 percent in October, its highest level in 26 years, as the economy lost another 190,000 jobs, the Labor Department reported Friday. The jump into the realm of double-digit joblessness – from 9.8 percent in September – provided a sobering reminder that, despite the apparent end of the Great Recession, economic expansion has yet to translate into jobs, leaving tens of millions of people still struggling…”
Poverty-related issues in the news, from the Institute for Research on Poverty