Jobless rate tops 10.2% for first time since 1983

http://finance.yahoo.com/news/Jobles....html?x=0&.v=8

I honestly assumed that it would've reached 9.9% for this month and didn't expect it to even reach 10% until December or January.

The Obama and the Dems really need to get to work on this issue.

Here is the thing. Most of these journalist are great writers but have no idea how the economy actually works, or how such economic indicators are used to get a sense of the state of the economy.

Look, the unemployment rate (which includes joblessness) is a lagging indicator. Hence, it is not surprising to see the indicator deteriorate further even if the economy is beginning to recover. If anything, the writers should be looking at house hold employment, which is part of the monthly employment situation. You see, house hold employment captures self-employed data and the people that they hire. In the early stages of economic recovery, such indicators tend to change at a faster rate than others. Hence, if such numbers begin to improve, it is a good sign that recovery is on the way. I guess my point is that the joblessness rate means shit when it is just given alone and out of context.