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President Barack Obama released a list of several new options being considered by the White House to spur growth after "sobering" news that unemployment spiked to a 26 1/2-year peak last month, settling in at a staggering 10.2% and expected to climb.

DC: Obama Extends Jobless Benefits on Sobering Jobs Report (Image: WENN)

The Los Angeles Times notes, "The jobless rate rose to 10.2% in October from 9.8% in September -- first time in the double digits since 1983. Employers cut 190,000 jobs last month, although the pace of job losses continues to slow."

"The need for such a measure was made clear by the jobs report we just received this morning," the president said. He pleaded for patience adding from the Rose Garden in prepared remarks, "Although it will take time and it will take patience, I am confident that our economy will recover, I'm confident that we're moving in the right direction."


Republicans pounced and House Minority Leader John Boehner (R-Ohio) said people are wondering where the jobs are that were promised by the $787-billion economic stimulus, the Times story notes.

"The president himself has said that job creation is the ultimate measure of economic performance," Boehner said. "Today's report is just another reminder that American families and small businesses are still struggling as the White House response continues to fall short."

The newspaper has more details including a chart that highlights where benefits are being extended to the jobless.