So Much Worse Than Carter

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American Spectator:

So Much Worse Than Carter
By Peter Ferrara on 10.13.10 @ 6:08AM

The most important fact to take from the September unemployment report released last week is that almost three years after the recession began the economy was still losing jobs! Almost 100,000 (95,000) additional jobs were lost last month from the economy overall. That makes 400,000 jobs lost since May. Moreover, in a regular annual benchmark revision to calibrate unemployment rates for updated data, the BLS reported a further 366,000 jobs lost for March. The total number of Americans unemployed stands at almost 15 million (14.8).

In addition, the number employed part time for economic reasons rose to 9.5 million in September. The Bureau of Labor Statistics (BLS) reports, "These individuals were working part time because their hours had been cut back or because they were unable to find a full time job."

The depression continues for African Americans with 16.1% unemployment, near that level for a year now. Hispanics suffer 12.4% unemployment, and Obamanomics is punishing teenagers the most with 26% unemployment.

The BLS reports the U6 unemployment rate, which includes the unemployed, those marginally attached to the labor force (discouraged), and those working part time for economic reasons, at 17.1%. That is the highest point over the past year, and probably since the Great Depression.