Grandview Area Republican Club

The nation’s unemployment rate in September rose to 9.8 percent, its highest level since June 1983, as 263,000 jobs were cut from payrolls, the Labor Department announced Friday

The 263,000 jobs lost during the monthwere far more than most economists had expected. The consensus forecast was that around 175,000 jobs had been shed in September.

“One job lost is one job too many,” said Vice President Biden this morning, flanked by chair of the Council of Economic Advisors Christina Romer; OMB Director Peter Orszag; Director of the National Economic Council Larry Summers; and Executive Director of the Middle Class Task Force Jared Bernstein.

Meanwhile, here in the great state of Ohio, Unemployment still hovers around 11% – August’s Unemployment numbers were reported at 10.8%. While that is down from the high of 11.2% in July, there’s still no reason yet to celebrate – One in Ten Ohioans still do not have a job.

Here in Central Ohio, the picture doesn’t look any better. The area (Franklin County & Surrounding Areas) has an average unemployment rate of 9%, with Pickaway County reporting 11% unemployment in August alone. Other areas of concern throughout the state:

• Meigs County: 16.6% Unemployment
• Highland County: 16.3% Unemployment
• Williams County: 15.9% Unemployment
• Pike & Morgan Counties: 15.6% Unemployment
• Noble & Adams Counties: 15.0% Unemployment
• Scioto County (Gov. Strickland’s Home County): 13.1% Unemployment

The Administration may want to call this “Change.” If this is the change the Cult of Barack Obama was talking about…its change in the wrong direction.

Click here to read the full ABC News Article

Click here for Localized Ohio Unemployment Statistics

What do YOU think? Is there hope yet, or will it get worse before it gets better? Leave a comment!

So much for change.

On Tuesday Morning, August 25, the Federal Office of Management and Budget announced that this recession is deeper than we all expected. How much deeper? Unemployment will hit 10% nationwide in the next year, and the Federal Budget Deficit will grow to over $1.5 Trillion Dollars.

From Bloomberg Business News:

U.S. unemployment will surge to 10 percent this year and the budget deficit will widen to $1.5 trillion next year, reflecting a “deeper recession” than previously expected, White House budget chief Peter Orszag said.

The Office of Management and Budget also forecasts that the U.S. economy will shrink 2.8 percent this year, worse than the 1.2 percent contraction the OMB projected in May. For next year, the budget office said the gross domestic product will grow 2.0 percent, less than the 3.2 percent expected in May. By 2011, the economy would be well on its way to recovery, growing at a 3.8 percent annual rate, according to the administration’s mid-year economic review, released this morning.

Read the full article here