Innovation Update

Summary Box: Unemployment Jumps To 10.2 Percent

 

JOBLESSNESS JUMPS: The unemployment rate rose to 10.2 percent in October — a 26-year high — as employers continued to cut jobs.

ROCKY RECOVERY: The economy grew in the third quarter, but with 15.7 million Americans unable to find work the recovery remains fragile.

HOW HIGH?: The unemployment rate is forecast to keep rising, perhaps above 10.5 percent. Some economists say a return to pre-recession employment levels could take five years.

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