US Jobs Market Worst Since Bush 1.0

The jobs market in the United States is at its worst point since when George H.W Bush was leaving power.

Reuters Business News: The number of U.S. workers filing new claims for jobless benefits rose by a larger than expected 27,000 last week to their highest level in 16 years, Labor Department data showed on Thursday, as a harsh economic environment forces employers to cut back on hiring.
Continuing claims were 4.012 million in the week ended November 8, the latest data available, up from 3.903 million the prior week and the highest since December 1982.

What a mess Barack Obama has left to clean up.....What a mess!

Japan In Recession

Following on from offical reports from the European Union and Hong Kong, Japanese authities and analysts say that Japan's economy has entred a recession after a period of low growth.

Government officials announced Monday that the Worlds second largest economy was indeed in recession, following the rest of the world into slowdown in the aftermath of the Global Financial and Credit Crisis.

Japan's Cabinet Office confirmed that its economy shrank another 0.1 percent in the third quarter, following a 0.9 percent drop in the second quarter. The country's gross domestic product -- second to the United States -- has fallen by 0.4 percent this year, pushing Japan into its first recession since 2001.

Via: Washington Post