The unemployment rate strike the peak. The U.S Department of Labor has deciphered the nation's unemployment rate to 10.2%. This is the highest level ever seen since 1983.
Since the financial crisis 7.3 million people have lost their job. 190,000 Americans have lost their jobs in the month of October compare to 219,000 for the month of September. The largest losses are noticed in areas such as construction, manufacturing and retail. States like Michigan, Nevada, Tennessee, Oregon, Kentucky, Ohio, Alabama, South Carolina, North Carolina, and California have an unemployment rate above 10%.
This economic situation unveil how deep we were or we are in this recession and the complexity the Obama administration is facing to take us out this financial meltdown.
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