Christina Romer, chair of President Barack Obama's Council of Economic Advisors, said the report "contained both signs of hope for recovery and painful evidence of continued labor market weakness." "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" Romer said. The jobless rate rise occurred even as the agency revised down the number of job cuts in the prior two months.
Full Article at Sydney Morning Herald