Another truly sad day in America. True, recession might be ending because the last quarter of this year will probably show another growth. If that happens, that would be 2 successive quarters of positive growth officially ending the recession.

The bad news? Employers are just reluctant to hire. And the meager recovery for the last quarter could be in jeopardy. The news said:

“The unemployment rate has hit double digits for the first time since 1983 — and is likely to go higher. The 10.2 percent jobless rate for October shows how weak the economy remains even though it is growing. Rising unemployment also could threaten the recovery if it saps consumers’ confidence and makes them more cautious about spending as the holiday season approaches.” (Source: Yahoo)

And so there are about 16 million Americans who can’t find jobs despite all the good economic news.

In fact, the unemployment rate in September was 9.8% and today’s latest numbers? 10.2%

What does that mean? There are now 15.7 million unemployed, up from 15.1 million.

I know how everyone were happy about the economic growth we in the US have the last quarter. But that was brought about by all the tax credits on cars and for first time home buyers and a host of government bailouts. Some theorize that if you take this all out, there probably was no growth or that we actually had a negative growth last quarter. One version which I seem to agree on.

However they read the positive numbers from the last quarter, 16 million Americans out of work is a number that’s easy to read.

It’s really gloomy here in our part of the world.

And Christmas is coming…

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