Nov 6th, 2009 - MiamiHerald
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The national unemployment rate surpassed 10 percent for the first time since 1983, the government reported Friday, and is likely to go higher, giving greater urgency to efforts in Congress and at the White House to consider tax and other incentives to spur businesses to hire.
The October jobless rate of 10.2 percent reflected nearly 16 million unemployed people and was up four-tenths of a percentage point from September. Job losses occurred across most industries, from manufacturing and construction to retail and financial.
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WASHINGTON — The unemployment rate has hit double digits for the first time since 1983 – and is likely to go higher.
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The U.S. unemployment rate jumped from 9.8% to 10.2% in October, the U.S. Bureau of Labor Statistics reported on Nov.6. That rate exceeds economists' estimates of 9.9% and is the highest since April 1983.
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