US Economy Worse Than Thought

The worlds largest economy tumbled in the last quarter, by far the worst decline in at least 7 years.

Gross Domestic Product fell some .5% in the three months ending September, figures show. That compares to GDP growth of 3% the previous quarter. The US economy is indeed in a very bad recession.

The third quarter drop was the biggest for the economy since a 1.4% decline in the third quarter of 2001, the last full quarter that the U.S. economy was judged to be in a recession, money.com reported.

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!