WASHINGTON – The unemployment rate rose to 9.8 percent in September, the highest since June 1983, as employers cut far more jobs than expected.
The report is evidence that the worst recession since the 1930s is still inflicting widespread pain and underscores one of the biggest threats to the nascent economic recovery: that consumers, worried about job losses and stagnant wages, will restrain spending. Consumer spendingaccounts for about 70 percent of the nation's economy.
The Labor Department said Friday that the economy lost a net total of 263,000 jobs last month, from a downwardly revised 201,000 in August. That's worse than Wall Street economists' expectations of 180,000 job losses, according to a survey by Thomson Reuters.
That's why it makes sense to use a program like Home Seller Assist, also known as We Provide The Cash, to create an alternative source of income. You never know when you will join the ranks of those who have lost their jobs. HSA now provides you with $700 referral fees when you direct others to their Wed webcasts and they just recently re-instated the low $37 fee to come in as a gold member with no monthly fees.
Larry G Potter
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