The national unemployment rate for October was released today; the numbers don’t look good.
The unemployment rate has surpassed 10 percent for the first time since 1983 – and is likely to go higher….the loss of jobs last month exceeded economists’ estimates. It’s the 22nd straight month the U.S. economy has shed jobs, the longest on records dating back 70 years.
State-level data should be available in another 7 to 10 days, so we’ll have to wait to see North Carolina’s updated numbers. As of September, NC’s unemployment rate was 10.8%, 9th highest in the U.S.