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Unemployment rate hits 26 year high at 10.2 percent

Todd Atchison

Story Created: Nov 6, 2009 at 9:07 AM CDT

Story Updated: Nov 6, 2009 at 9:07 AM CDT

NEW YORK (AP) - Stock futures are falling after the government
says more jobs were lost in October than expected, pushing the
unemployment rate above 10 percent.

The Labor Department says employers cut 190,000 jobs last month,
more than the 175,000 job losses economists expected. The
unemployment rate jumped to 10.2 percent - the highest since April
1983. Though investors have been expecting unemployment to rise
above 10 percent eventually, the increase in October was more than
expected.

Dow Jones industrial average futures are down 39 at 9,915, after
being up about 15 points prior to the report. Standard & Poor's 500
index futures are down 3 at 1,059, while Nasdaq 100 index futures
are down 4 at 1,714.

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Homer said on Monday, Nov 9 at 10:20 PM

Everybody wanted change well that is all people have in there pockets now is a lil change in there pockets.Obama Plan will set you free.Free from work! Oh yeah the spiral down has stopped ha1 ha!

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Luke said on Sunday, Nov 8 at 9:22 PM

I can't believe that our president hasn't bothered enough to help solve the unemployment problems. Instead of throwing money away to big businesses, put some of it to good use. Luckily, our community hasn't been effected very badly.

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Tim said on Saturday, Nov 7 at 8:59 PM

It would be nice if our President could put down his basketball and golf clubs every now and then so he could work on getting people back to work. But, that would mean he would not be on tv or flying somewhere to make a pitch for the olympics or going to campaign for someone wanting to be re-elected.

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Anonymous said on Saturday, Nov 7 at 8:34 PM

if the state and federal goverment really wants to help the unemployed,do away with making them pay state and federal taxes on their benefits.

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