The First Draft: Jobs (not), Jobs (not), Jobs (not)
The October employment report is in and it’s a shocker.
The unemployment rate jumped to 10.2 percent, the highest since April 1983 when it was also 10.2 pct. If you don’t want to do the math, that was 26 years ago. It was worse than expectations for 9.9 percent.
This is not good news for President Barack Obama who is struggling to pull the economy out of the worst recession since the Depression.
The employment numbers were also worse than expected with October payrolls falling 190,000, a bigger drop than the 175,000 decline expected.
It’s a day of mourning at Fort Hood in Texas after an Army psychiatrist went on a shooting rampage that killed 12 soldiers and one civilian and wounded 30.
“It’s difficult enough when we lose these brave Americans in battles overseas. It is horrifying that they should come under fire at an Army base on American soil,” President Barack Obama said yesterday.
“I was saddened to learn of the tragic incident at Fort Hood. Laura and I are keeping the victims and their families in our thoughts and prayers during this difficult time,” former President George W. Bush, who lives in Texas, said in a statement.
Suspected gunman Major Nidal Malik Hasan was in stable condition but investigators had not yet been able to interrogate him, Lt. Gen. Robert Cone, Fort Hood commanding officer, said on NBC’s “Today” show.
Photo credit: Reuters/Jim Young (Obama makes remarks about shooting at Fort Hood on Nov. 5)