Unemployment Rate Climbs to 9.8%

Rate has topped 9% for 19 straight months, longest stretch on record
By Newser Editors and Wire Services
Posted Dec 3, 2010 7:50 AM CST
In this Nov. 30, 2010 photo, Lilian Dacanay (left) waits to speak with a prospective employer during a career fair, in San Diego.   (AP Photo/Gregory Bull)
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(Newser) – The nation's unemployment rate climbed to 9.8% in November, a seven-month high, as hiring slowed. The jobless rate has now topped 9% for 19 straight months, the longest stretch on record. Employers added only 39,000 jobs last month, a sharp decline from the 172,000 created in October. The weakness was widespread: Retailers, factories, construction companies, financial firms, and the government all cut jobs. Private companies, the backbone of the economy, created 50,000 jobs, down significantly from the 160,000 the month prior, and the smallest gain since January.

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