Postcards

How the power players do it - by Fortune senior editor at large Patricia Sellers

Power Point: Progress comes in fits and starts

October 2, 2009: 6:20 PM ET

"Progress comes in fits and starts and we're going to need to grind out this recovery."

--President Obama, responding to today's dismal jobs report that showed much greater losses than expected. The reported net loss of 263,000 jobs for September was up from 201,000 in August, and the unemployment rate of 9.8% hit another 26-year high. "I've made the point that employment is often the last thing to come back after a recession, and that's what history shows us," the President said. "But our task is to do everything we can possibly do to accelerate that process."

Meanwhile, the teen unemployment rate hit a record high 25.9%, with young minority workers disproportionately affected. At 37%, the rate of unemployed African American teens is four times the national average. "The full effects of that lost opportunity will be felt for years to come," says Kristen Lopez Eastlick, Senior Research Analyst for the Employment Policies Institute. --Jessica Shambora

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About This Author
Pattie Sellers
Patricia Sellers
Senior Editor at Large, Fortune
Executive Director of MPW/Live Content, Time Inc.

Fortune senior editor at large Pattie Sellers has written some of Fortune's most talked-about cover stories, including "Marissa Mayer: Ready to Rumble at Yahoo," "Oprah's Next Act," "Can Meg Whitman Save California?" "The $100 Billion Woman" (Melinda Gates), and "Remodeling Martha" (Martha Stewart). She has helped oversee Fortune's "Most Powerful Women in Business" package every year since its launch in 1998. Pattie is Executive Director of the Fortune Most Powerful Women Summit, the preeminent gathering of women leaders in business and beyond. She oversees MPW programs that enable women leaders to extend their influence and empower the next generation—such as Fortune MPW Entrepreneurs and the Fortune-U.S. State Department Global Women Leaders Mentoring Partnership. Beyond her Fortune duties, she is also developing Live Content across Time Inc. Pattie grew up in Allentown, PA, graduated from the University of Virginia, and started at Fortune in 1984. Her blog, Postcards, is about how power players lead, manage others, and navigate their careers.

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