Saturday, November 08, 2008

Jobless ranks hit 10 million

The nation's economic mess continued to grow as it was reported that the nation's jobless ranks have soared past 10 million mark last month. This is the most in a quarter-century, and is going to grow as piles of pink slips have been passed out in the last few weeks and more companies have shut factory gates and office doors to 240,000 more Americans with the holidays nearing.

Politicians and economists agreed on a painful bottom line: It's only going to get worse.

The unemployment rate soared to a 14-year high of 6.5 percent, the government said Friday, up from 6.1 percent just a month earlier. And there was more grim news from U.S. automakers: Ford Motor Co. and General Motors Corp., American giants struggling to survive, each reported big losses and figured to be announcing even more job cuts before long.

1 comment:

Ray said...

There are layoffs but I still see thousands of high paying jobs. (professional networking) (aggregated listings) (matches jobs based on your skills)

Good look to those looking for work!