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Unemployment breaks 10% - true unemployment at 17.5%
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The Labor Department reports the unemployment rate rose to 10.2 percent in October, from 9.8 percent in September.
According to Market Watch, an alternative gauge of unemployment, which includes discouraged workers and those forced to work part-time, rose to 17.5%, the highest on record dating to 1995.
The jobless recovery is an indication that President Obama's boondoggle stimulus bill was not properly targeted.
For more info: True unemployment at 17% - employers cut more jobs than expected ♦ Has the Obama/Democrats' stimulus done its job? ♦ Obama would have done nothing differently ♦ Obama ups the ante and loses all credibility on bailout boondoggle ♦ Obama's jobless 'recovery' - unemployment at 9.5% ♦ The Obama stimulus: predictions vs. reality ♦ Did Obama's administration cook the stimulus books?
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