Even as numerous indicators suggest that the economy is emerging from recession, one of the most important of all continues to worsen. The Bureau of Labor Statistics reported today that the unemployment rate rose to 10.2% in October (subscription required), its highest since April 1983. Statistics like this don’t augur well for optimistic predictions of a snappy V-shaped recovery.
Hoping for help from Uncle Sam? Steve Pearlstein, in this WaPo piece, gently suggests that it will be difficult for the government to fill the “jobs gap,” among other things.