Unemployment rises to 10.2 percent; black unemployment rises to 15.7 percent

The unemployment rate in October soared to 10.2 percent while black unemployment rose to 15.7 percent, the Labor Department reported on Friday.

The overall unemployment rate was the highest rate in 26 years, but the numbers do not reflect the millions of Americans who have stopped looking for work and are no longer counted as unemployed. The last time the official unemployment rate was at 10 percent or higher was in April 1983.

While GDP statistics indicate the country is no longer in recesssion, the U.S. economy shed 190,000 jobs in October, according to the Bureau of Labor Statistics. The largest job losses over the month were in construction, manufacturing, and retail trade.

The unemployment rate for teenagers was also high at 27.6 percent.

The news comes as President Obama and Congress struggle to pass a major health care reform bill and just days after closely watched elections in New York, New Jersey and Virginia on Tuesday.