According to The Associated Press, U.S. unemployment has now exceeded 9.5 percent for 14 straight months. That's the longest stretch that has happened since the Great Depression in the 1930s.
“The unemployment numbers today are so disappointing because they show that even with over $1 trillion in new additional spending, and the deficits that we have incurred, even government jobs cannot be sustained,” Chao told Fox News.
“There goes the Democrats’ last argument that we’ve turned the corner,” Jim Morone, a Brown University political scientist, told the Financial Times.
"It’s not surprising that employers aren’t hiring," economist Diana Furchtgott-Roth, a Hudson Institute senior fellow, told Politico. "Congress has left town and employers don’t even know what their tax rate is going to be next January."
As weak as the September jobs numbers were -- which came a full 15 month after the recession supposedly ended -- many analysts believe the true unemployment number is much worse.
That's because the "underemployment" figure -- comprised of those who are unemployed plus those working fewer hours than needed -- jumped in September from 16.7 percent to 17.1 percent.
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