A crushing jobs report: 240,000 more lost, unemployment up to 6.5%

Manufacturing sector hard hit again, and new administration is asked for answers

By Plant Engineering Staff November 7, 2008

The October jobs report from the Labor Department was as dismal as everyone expected. More than 240,000 jobs were lost in October, bringing the total for the year to 1.2 million. The unemployment rate now sits at 6.5%, its highest level in more than a decade. The manufacturing sector was especially hard hit, with more than 90,000 jobs cut in the month. The auto sector is seeking federal money to help overcome heavy losses in 2008. That was underscored Friday when Ford reported third quarter losses of $3 billion