The economic news remains glum...
Nonfarm payroll employment edged down (-95,000) in September, and the unemployment rate was unchanged at 9.6 percent, the U.S. Bureau of Labor Statistics reported today.
The number of unemployed persons, at 14.8 million, was essentially unchanged in September, and the unemployment rate held at 9.6 percent.
Read more on the Department of Labor site.
As always, there is a political angle here:
These are the last monthly figures the Department of Labor will release before the November midterms. Republicans will surely seize on them to argue that the Democrats' economic agenda has failed -- though most economists, and the non-partisan Congressional Budget Office agree that unemployment would be about two percent higher than it is without the stimulus.
Over 600,000 people were added to the ranks of the involuntarily part-time work force.
About 2.5 million people, unemployed for more than a month, have stopped looking for work. That number is up from 2.2 million last month.
More to follow soon.
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