Job Losses Mount, Unemployment Highest in 26 Years (11/6/09)

The latest report from the U.S. Department of Labor shows the unemployment rate rising to 10.2 percent, with 190,000 jobs lost in October, on top of the 263,000 jobs lost in September.
 
Since the recession began in December, 2007, the U.S. economy has shed 15.7 million jobs. The 10.2 percent figure does not include those who are "marginally attached workers, employed part time for economic reasons," or have given up looking for work. When all of these workers are counted, which is the most realistic way of gauging unemployment, the unemployment figure jumps to a shocking 17.5 percent, with 27 million Americans without full-time jobs.
 
"Working men and women continue to bear the brunt of this recession, while big banks and insurance companies continue to rake in outrageous profits," said RWDSU President Stuart Appelbaum. "It is important to remind people that it is George W. Bush and the Republicans who are responsible for the terrible state of our economy, despite attempts by the right to blame President Obama."
 
Read the BLS unemployment report for October