Unemployment Jumps to 9.7%
No good news today for Obama’s sinking ship on the economy.
U.S. employers cut a fewer-than-expected 216,000 jobs in August, while the unemployment rate rose to a 26-year high, the government said on Friday in a report showing a still fragile labor market.
The Labor Department said the unemployment rate rose to 9.7 percent after dipping to 9.4 percent in July and the decline in payrolls was the smallest in a year. The department revised job losses for June and July to show 49,000 more jobs lost than previously reported.
Thanks Obama. That stimulus is really working!
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Posted by Jay on September 4, 2009 11:13 am
» Filed Under Anti-Capitalism, Economy, Government malfeasance/misfeasance, News, Recession/Depression, Unemployment, economic stimulus
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