From the BLS:
The unemployment rate rose from 9.8 to 10.2 percent in October, and nonfarm payroll employment continued to decline (-190,000), the U.S. Bureau of Labor Statistics reported today. The largest job losses over the month were in construction, manufacturing, and retail trade.
According to the BLS, there are a record 5.6 million workers who have been unemployed for more than 26 weeks (and still want a job).
Here’s some good news: Jared Bernstein on Bloomberg, he’s the economic advisor to VP Biden. (Why does the VP need an economic advisor?) Anyway, he says things will get better quickly as the administration is presently creating OR SAVING 2.5 million jobs! So you see, help is on the way…..