November 6, 2009
Posted: November 6th, 2009 10:38 AM ET

(CNN) - Christina Romer, chair of the President's Council of Economic Advisors, released a statement Friday on the latest jobs report:

“Today’s employment report contained both signs of hope for recovery and painful evidence of continued labor market weakness.

Payroll employment declined 190,000 in October, continuing the steady trend of moderating job loss that began last spring. Furthermore, the employment loss in both August and September was revised down substantially. Importantly, employment in temporary help services, typically one of the first industries to see job gains, increased by 33,700. The motor vehicle industry also posted employment gains. These are hopeful signs that the unprecedented policy actions are working to stabilize the economy and put us on a path toward recovery.

The unemployment rate, however, rose four-tenths of a percentage point, to 10.2 percent. That this occurred despite the rise in real GDP last quarter reflects both the typical lag between GDP growth and unemployment decline, and the recent exceptional increases in productivity. Having the unemployment rate reach double-digits is a stark reminder of how much work remains to be done before American families see the job gains and reduced unemployment that they need and deserve.”

Filed under: Economy


Tony   November 6th, 2009 12:10 pm ET

Created or saved? So far it looks like 3 million jobs were destroyed or not saved. Thank god congress passed than trillion dollar spendulus bill, immediate action was required to do absolutely nothing except line the pockets of pork barrelers and special interests. Time to stop all of this spend and tax BS being jammed down our throats. The Dems are the party of NO!! As in NO CLUE HOW TO RUN A GOVERNMENT IN AMERICA.

Joe in NJ   November 6th, 2009 12:07 pm ET

Less people were laid off in October because there are less people working to be laid off. When 190,000 people are laid off, it is not a sign of hope. The WH will say anything to try and convince you that their failed stimulus is working.

lila   November 6th, 2009 12:07 pm ET

The old saying "you get what you pay for" used to have some truth to it when gaging the underground economy. When you hired people not reporting the income you most often got labor that was not highly skilled.. and often the workers did not speak English. No longer! The underground economy is booming is large part because so many English speaking highly skilled labors have joined, You now can get top quality workers at half the price because companies are slow to hire. Again, the underground economy is booming. It's huge.

chubby   November 6th, 2009 12:07 pm ET

Unemployment has now hit 10.2 percent and the real unemployment number is at least 15 percent if you count those that have given up finding a job and are now just staying home collecting unemployment benefits. How is CHANGE working out for you in the age of nobama?

Inabon Yunes   November 6th, 2009 12:00 pm ET

That is how bad reps messed this up. And they want more? We ellected Obama to fix it, they did it in 8, he will fix it un 4

marion/alabama   November 6th, 2009 11:51 am ET

Romer is not worth discussing. She is in Obama's pocket so why are we asking her what she thinks?You know the answer before you ask the question,where is the sense in that?She thinks we are all stupid.The Fact is that the Cash for clunkers drove up the GDP,but that is over now and we are back to waiting on the Stimulis to create the 3-4 million jobs,Obama Promised.

Fair is Fair   November 6th, 2009 11:51 am ET

Might as well send out Romer for today's daily dose of democratic dog dung propoganda. No one believes O-blah-blah or Buffoon Biden anymore.

nadine   November 6th, 2009 11:50 am ET

People, please have patient. This did not happen overnight. Many of you know this was years of manipulations of planted bad seed and this is the reward. Get behind with having long term growth, no more short term mess.

Randolph Carter   November 6th, 2009 11:50 am ET

Yikes! Unemployment is almost as bad as it was under Ronny Rayguns. Have a nice day!

billy123   November 6th, 2009 11:46 am ET

Christina Romer statement is a joke because I have been unemployed without a job all my unemployment income has been all used up. Therefore I am not even counted anymore. I wonder when the last time Christina Romer went down to the local employment commsion office? Only people who are working and can pay their bills would make a statement like she did.

I voted for President Obama and I suggest that he get President Clinton to help with getting people back to work ASAP! My COBRA insurance runs out this month and then I will have no health insurance either.

Please President Obama help the unemployed ASAP.to get back to work.

Thanks a 39 year Democrat!,

lila   November 6th, 2009 11:45 am ET

I also know people who have had their hours cut that are joining the underground economy.. side jobs they don't report. People do what they must to survive... and Americans are and always have been survivors. Hair dressers, handy men, landscaping, plumbing, car repair, you name it, and it can be found for a very good price by a person who is not reporting the labor. So, those numbers... 10.2%... there are a lot of them who are working. lol The government just does not know about it.

Just Say No to Socialism   November 6th, 2009 11:44 am ET

Talk about spin, come on. Next thing we know Biden will be saying the stimulus worked. Oh, he's already saying that. WHAT A JOKE

AXH   November 6th, 2009 11:41 am ET

Come on folks, where exactly do you find "hope" in that report!
10% unemployment is 10% unemployment! And that figure does not count all the people who've been looking for work and have given up and are not on the radar!
Wait up folks, this admin does not know what its doing, except knowing how to spend more money and spend more money!!!

Dave   November 6th, 2009 11:40 am ET

I want some of the hopeium that these incompetents are smoking. Obumbler is ruining the economy with his trillions of new spending while unemployment is over 10%. Hurry and rush through you cap&tax and goverment run heathcare boondogles Democrats because you are going to be voted out in 2010.

Carlos   November 6th, 2009 11:38 am ET

Yea it could be 11 percent, and probably will be before long.

D. Tree   November 6th, 2009 11:37 am ET

When the 2-year Recovery and Reinvestment Act has run its course, and our economy is once again on sound footing, nobody will be able to complain about "the stimulus" anymore... but I'm sure they'll find something else to complain about Obama instead.

Idiot_Pelosi   November 6th, 2009 11:33 am ET

Unemployment jumps to over 10% and his "HOMER" from the OBUMMER administration tries to spin it into something positive.

Are you kidding me?

If you recall, the Obummer Stimulus, which we all knew was full of pork, was going to keep Unemployment below 8% (according to the self proclaimed annointed one).

OBOZO is a car salesman, period.

lila   November 6th, 2009 11:33 am ET

There is a lot of underground economy. I know a number of people who are putting on roofs, doing tile work. painting.. ect, and none are reporting the income. They are not Mexicans either. People of all races are part of the underground economy these days. It's a huge and booming business.

FL for Change   November 6th, 2009 11:31 am ET

I find it interesting that the GOP is criticizing this news. It's been a year since the President was elected, and only 10 months since he took office. What PLAN have they offered the American public? What's that? Crickets chirping. Maybe they would be taken more seriously if they actually offered up a plan. Instead they would just rather finger-point and sit on their butts. I can only imagine the mess we would be in if Grumpy and Dopey had been elected...

demwit   November 6th, 2009 11:28 am ET

Yeah but, but.., just think of how bad it could have been without Obama!!

single mom   November 6th, 2009 11:27 am ET

Mmm, according to the math and economics I've learned, an increasing number of unemployed numbers and percentage is NOT a good thing. We're over 10% for the first time in 26 years. Someone explain to me how this is good? (1983 for those who use a different type of math.)

RealityKing   November 6th, 2009 11:26 am ET

Now lets all say it together.., "Hope is not a recovery strategy".

Suzan   November 6th, 2009 11:26 am ET

Yes the job report shows HOPE and it is always the Job market that rebounds last, it always has been that way.......but to listen the the GOP it is just more of the same negative outlooks, trying to turn any hopes into FEAR and SCARE the American people.....because these republicans have no real answers to the problems that this country is facing......

Bob   November 6th, 2009 11:24 am ET

I have seen this before in the early 80's and early 90's recessions. We are going to need at least 3 strong quarters iof growth, in a row, before we see more jobs created fast enough to bring down unemployment.
Unfortunately what happens is that we get a strong quarter due to businesses shrinking their inventory. These businesses are moving lots of merchandise (giving us a strong quarter) and skimpy on restocking. That creates a weak demand for more inventory. Without the demand jobs cannot be created and unemployment stays high. On the next quarter, the unemployment remains high and most of the people's discretionary cash has been spent on bargains from last quarter, the next quarter become very weak and we can see a "double-dip" recession.

Objective Thinking   November 6th, 2009 11:22 am ET

Unemployment jumps to double digits and the Chair of Obama's Council of Economic Advisors says it's signs of hope. If it was a Republican administration saying this, they would be accused of being "out of touch."

Wow   November 6th, 2009 11:22 am ET

I do not say an unemployment rate at 10.2% as a sign of hope. I see it as unacceptable. The White House said that it was going to remain at 8% after passing a $757 BILLION stimulus package. That hasn't happened. We now have the worst unemployment rate since the early 1980's. Get people jobs, give businesses tax breaks that hire them, and then those people will have healthcare. What is so hard about this? Why are we trying to resort to socialism?

Eddie   November 6th, 2009 11:21 am ET

What an Oxy-Moron.....only an Obama LIberal could put such a spin on over the greatest job loss in modern history!

all they want is higher taxes, in return you get more POVERTY   November 6th, 2009 11:21 am ET

Hope, you fools said it wouldn't go above 8 percent.

And your GDP was all government spending.

Paul from Phoenix   November 6th, 2009 11:18 am ET

So, people are still losing jobs, just not as many as last month. Think about that. We are cheering because fewer people lost their jobs. I will cheer when jobs are created.

Oh, and that 10% number is low, because it doesn't count part-timers and people who have stopped looking for a job right now.

But wait a minute...the stimulus was supposed to keep us below 8%? Biden assured us the stimulus was working. Hmmm......

Tony   November 6th, 2009 11:17 am ET

Is she for real? The numbers were not going to go above 8% and going to 10.2% is good news. Iguess if you shout it loud enough and long enough, you believe it.

Now hold still you still have a little more kool aide to drink.

This administration is begining to crumble and they do not know what to do........................

Michigan   November 6th, 2009 11:17 am ET

Yeah. Try telling that to the 190,000 people who lost their jobs last month and have few to no prospects of finding another one.

Leonard.   November 6th, 2009 11:16 am ET

Morons, if you think 10% unemployment is a sign of job growth, then you are an Obama addict. The only growth at all is service industry jobs. Until manufacturing picks up there can be no real growth.

Illini   November 6th, 2009 11:16 am ET

This White House seems to believe that "Sayin it...makes it so." I know politicians in general live in a bubble and like to put a spin on everything, but this administration outdoes itself. That would be bad enough, but what really bothers me is....they think the American people are buying it!

Mike1952   November 6th, 2009 11:15 am ET

Unemployment over 10% but there is hope? Hope of what, setting a new record unemployment rate. Face it, BOs policies are genuine failures in all facets. Conervative fiscal policies would have been far better. Oh well, three more years and that will return. Thank God. What a catastrophe!!

PK   November 6th, 2009 11:15 am ET

CNN headline: "Romer: Jobs report shows signs of hope"

Journalist's headline: "Romer: Jobs report shows signs of hope but also continued weakness"

Linda Va   November 6th, 2009 11:13 am ET

Thanks for putting that in perspective. Now watch some idiot republican turn the message around to be negative and imagine that the DNC and President Obama is at fault some how. Ready,set, go....

Truth-Bomb Thrower   November 6th, 2009 11:13 am ET

You don't have to be an economics expert to know that when you dump 800 billion bucks into an economy (money we don't have) there is bound to be an uptick in employment. The cash for clunkers program also had a lot to do with the increase in the automotive industry–which will take a nose dive as soon as it's over its little sugar-high. The so-called stimulus program was THE largest, most foolish waste of money in history. GOVERNMENTS DON'T CREATE QUALITY, LONG-TERM JOBS. Only the private sector can do that, and we seemed determined to destroy ours.

Keep it up american voters. Keep voting in incompetent, inexperienced, inepted politicians (aka democrats) and see where it gets you. Someone once said "people deserve the government they have".......the same can be said for economies.

Kevin in Ohio   November 6th, 2009 11:11 am ET

Give me a break. This administration is always spinning.... job losses CONTINUE. Period. It is a reflection of the incompetence of this administration and their basic cluelessness as to basic economic principles. Change we can believe in????????

Paul C.   November 6th, 2009 11:11 am ET

Anyone wondering where the jobs are should take a stroll through WalMart, Kmart, Macy's, Brands Mart, Best Buy and look at the country of origin for 99.9 percent of the merchandise on sale.
If you want a job you may have to move to China, Mexico, Tokyo, India, or Korea. Is having a cheap VCR worth losing tens of millions of well paying jobs? Where is your outrage?

jay   November 6th, 2009 11:11 am ET

How can there be hope on the job front, as the headline suggests, yet as you read the article, you find out that the unemployment has jumped from about 9.4% to 10.2%? I am not an economist, but I do know that if you lose jobs, its not a good thing for an economy. Can you have an economic recovery without job creation?

eolufemi   November 6th, 2009 11:08 am ET

The complete break down of who is unemployed is quite telling.

The unemployment rate for people with college degrees fell from 4.7% to 4.9%.

The unemployment rate for those in manufacturing is 15%.

The straight truth is that too many Americans have neglected their educations and now lack the proper credentials and expertise to acquire the jobs that are currently available in this recession.

The only solution is for Americans to get education and training in high-demand fields, which is a long term solution; meaning the unemployment rate will continue to be high as the American populace transitions to the new American economy, which no longer can offer good manufacturing jobs to poorly educated you and old people.

Dutch/Bad Newz, VA   November 6th, 2009 11:05 am ET

Small businesses need a shot in the arm so they can start hiring again.

Casy   November 6th, 2009 11:03 am ET

Are you serious? 10.2% "official" unemployment rate is a sign of hope?

Who is really foolish enough to believe the 10.2% rate? I KNOW it is ALOT higher than what's stated?

190,000 job decline is good? CNN would you assist the Bush Administration if they tried to come up with this laughable spin? NO! You would be all over them and rightfully so, yet you continue to give Obama a pass and you wonder why your ratings have declined drastically! The American People aren't stupid.......

Pee Wee   November 6th, 2009 11:00 am ET

I remain skeptical, but I sure hope she's right.

Neutralizer   November 6th, 2009 11:00 am ET

DEMOCRAPS are suffering from MAD DONKEY DISEASE! Windbag-IN-CHIEF and all democraps in the hall of Congress are sleeping at the wheel. What happen to $787 billion PORKULUS BILL to keep unemployment at 8% level? This country cannot afford democraps anymore, they're too expensive to maintain; they're making Paris Hilton look like a genius.

Unemployment will continue to increase, over 5 million Americans are now OUT OF WORK!

VOTE ALL DEMOCRAPS OUT OF OFFICE!!!!

T'SAH from Virginia   November 6th, 2009 10:57 am ET

Everything shows signs of HOPE and CHANGE!!! That is what President Obama ran his campaign on...

HATERS BEWARE! Soon STUFF will be made up and you will try to pass it around because NOTHING will be left for you to HATE ON!!! Yes We Can!!

And YES – President Obama always STRESSED that the unemployment rate would most likely rise above 10% before it gets better... He said it UMP-TEEN times but the REPUBLI-CAN'Ts and Company have SHORT TERM MEMORY!!!

fumblinstumblinoidiot   November 6th, 2009 10:57 am ET

What a bunch of gobbilty gook..how many jobs equate to 4 tenths of one percent??..and how does this equate to something positive??..and how soon will the rate be 11 percent??..only some political hack working in this useless administration try to shine a positive light on what is becoming a disaster for the working families

Neutralizer   November 6th, 2009 10:56 am ET

People in this administration all the way to hall of Congress full of democraps must be DUMB and STUPID! For christ sake! unemployment is 10.2% and will continue to increase. What happen to $787 billion WINDBAG-IN-CHIEF and ALL democraps was flaunting will keep unemployment at 8% level? OBAMA AND DEMOCRAPS LIED, AMERICA DIED!

DEMOCRAPS are suffering from MAD DONKEY DISEASE!

J.P.   November 6th, 2009 10:55 am ET

Highest unemployment rate in 26 years. Enough said.

What brought those numbers down in 1984?
...the full implementation of Reagan's 1981 tax cut (after a stupid, stupid two-year phase in of tax cuts... thanks Congress!).

It cannot be stated loudly enough, that the last time we saw this depth of terrible economic performance was the last time America agreed to economically-illogical Democrat socialist policies under Jimmy Carter.

Anyone who denies this fact is deluding themselves. Twenty-five consecutive years of economic prosperity and solid year-over-year growth cannot be denied.

PREDICTA   November 6th, 2009 10:49 am ET

More spin from Obama administration. 512,000 initial jobless claims last week is not a good number. Without job growth, there will be no recovery. Wall Street keeps pumping up cause the job loss numbers create more profit for companies. More profit equals higher stock prices. Without consumer spending, which accounts for 70 percent of GDP, how can anyone in their right mind say things are getting better?

Ajay Jain   November 6th, 2009 10:49 am ET

Slow and steady Obama wins even though with horrible left overs from GW Bush!!

Obama – Biden 2012

No More Incumbents   November 6th, 2009 10:47 am ET

We need to add a lot of politicians to the rolls of the unemployed. Oh wait, then they'll just become over-paid lobbyists. Oh wait, they already are..........

Spirit of America   November 6th, 2009 10:46 am ET

a jobless recovery is no recovery at all.

Matt   November 6th, 2009 10:45 am ET

I've seen a few posts in the past week saying that it is a fact that the stimulus package worked, but here is the reality folks...the stimulus package did not work, the bailouts have not worked and the American worker will continue to be in danger of losing his/her job until our corporate tax rates are re-evaluated and we start offering incentives to get jobs back home. The amount of money wasted by this administration is a scary thought, as the debt will have to be paid at some point...most likely by our children or our grandchildren.

fools and their freedoms are soon parted   November 6th, 2009 10:42 am ET

makes perfect liberal sense...the numbers of unemployed rise and they are still puffing themselves....

t22   November 6th, 2009 10:41 am ET

Spin away, and while you're doing so Ms. Roemer, please tell us again about how the stimulus was going to keep unemployment below 8%.

The fact is that the economy won't recover until we stop vilifying business and allow employers to know what the cost of hiring an employee is going to be, due to the health care fiasco.

There are no promising signs here, just more people losing their jobs.

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