U-Pack is the quick, convenient
way to move long distance.

U-Pack Long Distance Moving

Get a free moving quote!

It's fast & easy - no obligations

Unemployment rate sees increase

The national unemployment rate increased to 9.8 percent in November.

The national unemployment rate increased to 9.8 percent in November.

The Department of Labor recently released news that the unemployment rate jumped to 9.8 percent in November, a record streak for the jobless rate which has remained alarmingly steady above 9 percent for a record 19 consecutive months.

Companies created just 39,000 jobs in the month, a huge fall from the 172,000 positions added in October. Numerous job departments eliminated jobs during the month, including factories, retailers, construction, financial firms and government jobs creating instability for moving families.

The Department noted that a total of 15.1 million people were listed as unemployed in November, which contrasts with the prediction of many economists who said 150,000 jobs would be added in the month. Even the private sector created only 50,000 jobs, a figure that is down from the 160,000 jobs that were created in October.

Many job-seekers are giving up on the market, as the government reported there were 1.3 million "discouraged workers" in November, people gave up looking for work due to the belief that they have no chance of finding a job.

National Association for Business Economics president Richard Wobbekind says the job market's forecast is moving toward uncertainty due to sustained levels of high unemployment as well as the soaring federal debt and increasing product prices.