DISASTER. September Unemployment at 9.6% – 95,000 Jobs Lost
They wanted to fundamentally change America. They did.
The US unemployment rate has not fallen below 10.8 percent in the last
12 14 months according to the Center for Economic and Policy Research. This is unprecedented. The actual jobless rate has now topped 9.5 percent for 14 straight months, the longest stretch since the 1930s.
From November 2008, the month he was elected, until now, the economy has shed more than an astonishing 4.4 million jobs. That’s worse than Hoover.
The US economy lost another 95,000 jobs in September.
Unemployment probably climbed in September for a second consecutive month as slower U.S. growth prompted companies to limit hiring, economists said before a report today.
The jobless rate rose to 9.7 percent from 9.6 percent in August, according to the median estimate of 83 economists surveyed by Bloomberg News. Payrolls excluding government agencies rose by 75,000, while a drop in public staffing as the decennial census wound down caused total hiring to decline for a fourth straight month, the report may also show.
A lack of jobs underscores the concern expressed by some Federal Reserve policy makers that the rebound from the worst recession since the 1930s has been too slow and may require easier monetary policy. Economists surveyed by Bloomberg project unemployment will average at least 9 percent through 2011, which may restrain consumer spending, the biggest part of the economy.