Unemployment Continues To Rise, Stay In School Instead

Even though we’ve elected Obama, a beacon of hope and change, the economy is still in the shitter. What like he couldn’t fix that already? Apparently not, because today the government has reported that job losses have reached 1.2 million this year, with 240,000 job cuts in October alone.
 

These layoffs have brought the country’s unemployment rate to 6.5 percent, up from 6.1 percent in September and higher even than economist’ prediction of 6.3 percent. The economy is so bad that it has set records: The highest unployment rate since March 1994 and the first time more than a million jobs have been lost in year since 2001.
 

Scariest of all… it seems like no one is safe (except maybe Exxon Mobile, damn oil industry). CNN explains that job cuts are happening across the board:

Job losses were widespread across a variety of industries. Manufacturing lost 90,000 jobs, construction employment shrank further by 49,000 jobs, and the leisure and hospitality industries cut 16,000 jobs.

In an ominous sign for the upcoming holiday shopping season, retailers trimmed payrolls by 38,000 workers last month.

Professional and business services, a category seen by some economists as a proxy for overall economic activity, had a 45,000 drop in employment.

Unfortunately it doesn’t look as if things will be getting better any time soon. In times like these, there’s only one thing to do: Stay in school forever.