U.S. Unemployment Rate Rises

Throughout the U.S. 263,000 jobs were cut in September pushing the unemployment rate to 9.8%.

This was an un-expectedly large amount of job cuts. This is the 21^st month in a row that the United States has lost jobs.

September had the lowest monthly job loss since August 2008, since the recession began in December 2007 the number of unemployed has doubled to 15.1 million.

Before the U.S. can see positive growth in jobs the country would have to begin creating 538,000 jobs a month. At that rate we would not be a pre-recession job rates until September 2011.

Last month the unemployment rate in Orange County remained at 9.6% - hopefully a sign of some stability to come.