The U.S. economy lost 263,000 more jobs in September, bringing total job reductions to 7.2 million since the recession began in December 2007 — the biggest surge in the national unemployment rate since the great depression.

And it’s going to get worse.

According to James Bullard, president of the Federal REserve Bank of St. Louis, unemployment could rise above 10 percent as employers continue to cut payrolls. The national unemployment rate was 9.8 percent in September, the highest since 1983.

“Labor markets are very weak,” Bullard said. “It is disturbing, and I find it upsetting that we are still losing jobs. We would like to see nonfarm payrolls turn positive before the end of the year. I don’t know if we will get there or not.”

Rising unemployment will almost certainly continue to cause Americans to seek new opportunities and to live better for less by moving abroad. Millions of Americans have already moved to places where health care is cheaper, utility costs and taxes are lower, and government restrictions on businesses are less.