Unemployment breaches 10 Percent

Just hours after the government announced that the jobless rate topped 10 percent for the time since 1983, President Obama signed new legislation to provide additional unemployment benefits to Americans thrown out of work. At a news briefing in the White House Rose Garden on Friday, Obama said the sobering national unemployment numbers are regretful, and pledged to work hard to restore the struggling economy. Nearly 16 million people are unemployed and the economy shed a net total of 190,000 jobs in October -- less than the downwardly revised 219,000 lost in September -- the Labor Department said Friday. August job losses were also revised lower, to 154,000 from 201,000. "History tells us that job growth always lags behind economic growth," Obama said, noting a government report last week that said the economy grew at a 3.5 percent annual rate in the July-September quarter, the strongest signal yet that the economy is rebounding. Read the rest at FoxNews