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Double Digits

By Joseph Lawler on 11.6.09 @ 9:11AM

Today's Bureau of Labor Statistics jobs report contains the unwelcome news that unemployment has, as expected, crept up into the double digits: 10.2 percent, up from 9.8.

190,000 jobs were lost, which is fewer than have been lost in recent months.

Psychologically, the double-digit barrier is a big one. In particular, look for the Republicans to start hammering the Dems on their economic program more and more, and don't be surprised if Democrats start advocating more unusual and bold stimulus-style job creation measures.

Comments

Norman Jones| 11.6.09 @ 10:05AM

Very true. Psychologically, it is a very important number. Economically, not so much, as unemployment is lagging indicator. Productivity numbers yesterday were very encouraging, and I think the Spectator's Economics Editor, Brian Wesbury, is likely correct in his projection that a pretty big recovery is coming soon.