October’s unemployment rate jumped from 9.8% in September to 10.2%, the highest rate the United States has seen since 1983. Now that the health care bill has passed, it is expected that President Obama’s focus will move to unemployment. The Obama administration has been looking for ways to speed up job growth, and they are expected to evaluate the $787 billion stimulus bill that was passed this year.
“My economic team is looking at ideas such as additional investments in our aging roads and bridges, incentives to encourage families and businesses to make buildings more energy efficient, additional tax cuts to spur hiring, and more steps to ease the flow of credit to small business,” said Obama.
According to a recent CNN poll conducted October 30-November 1, the most important issue facing the economy is unemployment.
190,000 jobs were cut in October in the United States, and each sector in the economy experienced job cuts:
Service sector - lost approximately 61,000 jobs
Retail – lost 40,000
Health – lost 29,000
Education - lost 16,000
Manufacturing – lost 65,000
According to The Institute for Economic Competitiveness, it is expected that unemployment may hit 11.2% next year.
Utah unemployment rate for September was 6.2% and is expected to rise slightly for October, but many temporary jobs with temp agencies actually grew in the state during the month.
Sources: The Money Times and Bureau of Labor Statistics
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Comments
We'll be fighting in the streets
With our children at our feet
And the morals that they worship will be gone
And the men who spurned us on
Sit in judgment of all wrong.
They decide and the shotgun sings the song.
I tip my hat to the new constitution
Take a bow for the new revolution
Smile and grin at the change all around me
Pick up my guitar and play
Just like yesterday
And I get on my knees and pray.
We don't get fooled again
The change it had to come
We knew it all along
We were liberated from the fold that's all.
But the world looks just the same
And history ain't changed
And the banners are all flown in the next war.
I tip my hat to the new constitution
Take a bow for the new revolution
Smile and grin at the change all around me
Pick up my guitar and play
Just like yesterday
And I get on my knees and pray
We don't get fooled again
I move myself and my family aside
If we happen to be left alive
Get all my papers and smile at the sky
Cause I know that th
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