The unemployment rate rose to 10.2 percent, up from 9.8 percent and the highest rate since 1983. Technically the country is no longer in a recession but 15.7 million Americans are out of work, including 190,000 people who lost their job last month, KPCC reports.
“Counting those who have settled for part-time jobs or stopped looking for work, the unemployment rate would be 17.5 percent, the highest on records dating from 1994,” the story says.
Several friends of mine have lost their jobs in the past year and I’m wondering at this point does anybody NOT know someone who has been laid off?
[poll id=”45″]
Welcome to Bargain Babe! I’m Mara, and I’m so glad you’re here. I am an obsessive bargain hunter and penny pincher, and I am determined to live a full life without EVER paying full price.
Potential good news for those on unemployment – from the CA EDD website at http://www.edd.ca.gov/Unemployment/New_Federal_Unemployment_Insurance_Extensions.htm:
“New Federal Unemployment Insurance Extensions:
Congress recently approved legislation providing further unemployment extension benefits. It provides the potential for up to 20 additional weeks of benefits for higher unemployment states, including California. If the legislation approved by Congress is signed by the President and enacted this week, then Sunday, November 8, 2009, becomes the first eligible week for the new benefits. Any time spent unemployed and without benefits before then is not covered by the new federal legislation.
The new extensions will require complex programming to implement once authorized. EDD is working around the clock to ensure payments can be made as quickly as possible.
In the meantime, there is no need to contact EDD. We will be contacting potentially eligible claimants and notifying them of developments. Once programming is in place we will follow up with further instructions and automatically file the extensions for as many of our clients as possible. We may also need to contact some clients at that time and request further information. Please watch this Web site for further updates.”
I didn’t know that the unemployment rate was this bad. But I do believe it to be around there. That is exactly why I have a difficult time accepting the idea that there’s a recovery! If this is real, then why doesn’t more people get jobs?