(New York - NY) According to a government report released this week, the nation's unemployment rate rose above 10% for the first time since 1983, a more drastic jump than expected.
Although last month the Obama administration estimated that 640,000 jobs were created by the federal stimulus package passed earlier this year, the gain hasn't been significant compared to the 7.3 million jobs that have been lost since the start of 2008.
In response, White House Press Secretary Robert "Bob" Gibbs released the following statement:
"While the unemployment rate is 10.2%, let's remember that the employment rate is 89.8%. And that's a solid B+ average!"
