The unemployment rate rose from 9.8 percent in September to 10.2 percent October, the highest jobless rate since April 1983, the Department of Labor’s Bureau of Labor Statistics reported.
Since the start of the recession in December 2007, the number of unemployed persons has risen by 8.2 million, and the unemployment rate has grown by 5.3 percentage points.
In October, payroll employment fell by 190,000. The largest job losses over the month were in construction, manufacturing, and retail trade.
There were 808,000 discouraged workers in October, up from 484,000 a year earlier. Discouraged workers are those not currently looking for work because they believe no jobs are available for them.