For the first time since 1983, US unemployment has broken through the 10 percent level with most analysts predicting higher rates to follow. Almost 16 million Americans are now out of work and another 190,000 jobs were eliminated in October, marking the 22nd straight month that the US workforce has contracted.
One of the more startling findings in the latest employment report, is that the number of Americans who have been out of work for six months or longer, rose to a new record high of 5.6 million, or 35.6 of the total of unemployed people.
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