garycg
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Location: Tennessee
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Unemployment Rate Hits 10.2 Percent, Worst Since 1983; Employers Cut 190,000 Jobs
U.S. Bureau of Labor Statistics
November 06, 2009
In October, the unemployment rate rose to 10.2 percent, the highest since April 1983, and nonfarm payroll employment continued to decline (-190,000). The largest job losses over the month were in construction, manufacturing, and retail trade.
  
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11/6/2009, 7:56 am
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Bookworm88
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Re: Unemployment Rate Hits 10.2 Percent, Worst Since 1983; Employers Cut 190,000 Jobs
At least the economy is growing again.
http://www.reuters.com/article/businessNews/idUSTRE59S1EF20091029?feedType=RSS&feedName=businessNews
I'm sure glad I have a job with a no-layoff clause in the contract.
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11/6/2009, 8:00 pm
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Staybrite
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Re: Unemployment Rate Hits 10.2 Percent, Worst Since 1983; Employers Cut 190,000 Jobs
Sorry, not seeing any growth in my neck of the woods.
Companies are continuing to lay-off, and I am struggling to keep busy (or even look busy). I have had to take work at half the cost I did just a year ago in order to have something to do. Taking a loss that big on a job means one of three things.
1. I put out a faster (ie shoddy) product. (with little or no profit)
2. My company loses money on the job (negative profit)
3. I work extra hours for free to ensure #1 & #2 don't happen.
I've been working too many of those extra hours lately.
Heard a news reported that suggested that in some locations unemployment could be as high as 20%, because some people have just given up on looking for a job.
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Peace, that brief period in history when everyone stops to reload.
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11/7/2009, 11:21 am
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