WASHINGTON (AP) — The unemployment rate has surpassed 10 percent for the first time since 1983 -- and is likely to go higher.
The government says U.S. joblessness rose to 10.2 percent last month from 9.8 percent in September. The economy lost jobs for the 22nd month in a row.
Employers aren't expected to start adding jobs for several more months. Many are skeptical about the strength and sustainability of the recovery.
President Ralph Hardt of auto parts supplier Fein Tool North America in Cincinnati says he plans to slowly rehire once the economy picks up again.
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