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A major spike in U.S. unemployment

In October, nonfarm employment fell by 240,000 (or unemployment ROSE by 240,000 people, whichever you prefer) and the national unemployment rate rose from 6.1% to 6.5%, as reported by the U.S. Department of Labor today. Unemployment has risen by 1.2 million in the first 10 months of 2008 and over half of the increase has occurred in the last three months.

The next information release on regional and state unemployment will be on November 21, 2008.

It would be interesting to learn whether the theoreticians of Harvard Business School still believe that up to 42% of U.S. jobs could be offshored. There should be a lot fewer of those jobs in existence by now… and we have seen what unemployment in the mere 6-7% range has done to the economy.

-Bill at Cheshire Cat Photo™

You can view higher-resolution photos (*generally* 7-30 megabytes, compressed) at the Cheshire Cat Photo™ Pro Gallery on Shutterfly™, where you can also order prints and gifts decorated with the photos of your choice from the gallery. Apparel and other gifts decorated with some of our most popular photos can be ordered from the Cheshire Cat Photo™ Store on CafePress®. Both Shutterfly™ and CafePress® ship to most international locations worldwide! If you don’t see what you want or would like to receive an email when new photos are up on the site, send us an email at info@cheshirecatphoto.com.

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