Unemployment Rises to 9.8 Per Cent – Highest Rate since April 2010

Matt Drudge is not giving President Obama kind treatment this morning showing his damaged basketball lip with the news that the economy under his Administration continues to struggle.

The U.S. economy added fewer jobs than expected in November and the unemployment rate rose to its highest level since April, underlining the continued weakness in the labor market 17 months into the recovery.

Nonfarm payrolls rose by 39,000 last month as private-sector employers added only 50,000 jobs, the Labor Department said Friday. The October number was revised up slightly to show a 172,000 increase from a previous estimate of 151,000.

The unemployment rate, which is obtained from a separate household survey, unexpectedly rose to 9.8% last month. More than 15 million people who would like to work can’t get a job.

I would suggest that the Senate Republicans and Obama Administration should speedily agree to a compromise Bush era tax rate/cut bill and give stability to the financial markets.  They can extend them for one year if they wish and revisit the issue.

But, do SOMETHING for small business, so they can put Americans back to work.