The unemployment rate has reached 11%, as measured by the Bureau of Labor Statistics. Here is the link you need to scroll down a little and find the line on the left that says U-6. This is the true measure of unemployment in our country, as it is the most inclusive of what most Americans would consider being unemployed.
People here always question the government's economic numbers, accusing them of of being cooked, but in reality they are not cooked, it's just that the media simply regurgitate whatever information they are fed without actual fact-finding on their own, which leads us to the more favorable (to the government) numbers always being reported without question (it also doesn't help that most "journalists" have about the economic acumen of a third grader). Anyone can easily get online and see the base data (in all its various forms) to draw their own conclusions about the economy each month, as the process is very transparent.
What this month's report shows us, is that not only are we in a recession, but it is already starting to rival that of 1982, which was the worst recession since the 30's. The scary thing is that we are not through the worst of it yet, as the October numbers (influenced by the credit crisis) should be appalling and the Christmas season will not help much either this year. We are likely not headed for a depression (by technical definition), but likely will face the deepest and longest recession of the last 100 years and yes we are taking the world with us (the EU is likely going to be worse off by the end of this).
Hope I could brighten everyone's day and add a little understanding to the reported government numbers.