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US jobless rate surges above 10pc

Nov 08, 2009 (The Australian Financial Review - ABIX via COMTEX) -- The US unemployment rate rose 0.4% to 10.2% in October 2009, according to the country's non-farm payrolls report. The U-6 index listed the unemployment rate at 17.5%, although the Dow Jones Industrial Average rose 2% to 10,023.42 points in the wake of the data's release. President, Barack Obama, announced plans to extend the first-home buyers credit incentive scheme in response to the rise and said unemployment benefits would be offered for an additional 20 weeks.

Publication Date: 9 November 2009

DOW JONES INDUSTRIAL AVERAGE INDEX
JP MORGAN CHASE AND COMPANY
WELLS FARGO AND COMPANY


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By Anthony Hughes

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