SAN FRANCISCO -- -- The nation's unemployment rate has jumped again to the highest rate since 1983. The U.S. Labor Department put the October jobless number at 10.2 per cent. That's up from 9.8 in September. California's jobless rate was higher at 12.2 per cent.

Nearly 16 million Americans are officially out of work.

In San Francisco some people are just holding on to what they have.

Hot dog vendor Pete Sheehy said he's just glad to have a job. "It's tough, a lot of over-qualified candidates out there."

Unemployed financial worker Igor Berlizev said, "Few hundred people trying to send their resumes for every job that is out there."

Golden Gate University's Business School dEAN, Terry Connelly, said, "You've got more people looking and therefore your unemployment rate goes up until they get jobs."

The economy grew 3.5 per cent last quarter. Yet unemployment continues to grow, evidence suggesting a jobless recovery.

Republicans say the numbers tell the story that President Obama's $787 billion stimulus package has failed to create jobs.

Congressman Kevin Brady, a Texas Republican, said, "Overall the economy has lost an astounding 2.89 million jobs since the stimulus was passed. Today's numbers are further proof that the Obama economic policies are a failure."

The president did not admit to failure, instead he embraced the challenge. And Friday he signed a bill extending jobless benefits for up to 20 weeks. He said, "Although we lost fewer jobs than we did last month, our unemployment rate climbed to over 10 per cent a sobering number that underscores the economic challenges that lie ahead."

San Francisco street florist Ted Faine said, "Well you need to keep the money flowing and I think whoever took office needed to stimulate the economy, I think what he did was right."

Some economists say the unemployment troubles will just continue and they predict the rate will peak at 11 per cent next summer.