Unemployment Is Over 10%

Government officials have been saying for months that the unemployment rate would break the 10% barrier and, after the October data were released it's finally done so---standing now at 10.2%, a 26-year high that is an increase from the 9.8% rate last month.  The underemployment rate stands at 17.5%. There have been some good economic signs lately--larger than expected growth in the GDP, increased hiring in the manufacturing sector, and slowing in the number of jobs lost--but employment generally lags behind over indicators during a recovery period and that trend looks to be particularly strong this time around.  

-JH