Unemployment at 10.2%

As you'll hear throughout the day, the jobless rate reached its highest level since 1983, quite a bit worse than had been expected. The 10.2 percent rate for October is up from 9.8 percent the previous month. The other disappointing news is the net loss of 190,000 jobs, also higher than many economists had expected. It was the 22nd straight month of job losses, although the numbers have been falling substantially. In January, 741,000 jobs were lost. This doesn't bode well for the state and local numbers, which are due out later in the month.(CNNMoney.com)