42 states unemployment rises some into double digits
Edited on Fri Sep-18-09 03:03 PM by MellowOne
42 states lose jobs in August, up from 29 in July; biggest cuts in Texas, Mich., Ga., Ohio
WASHINGTON (AP) -- Forty-two states lost jobs last month, up from 29 in July, with the biggest net payroll cuts coming in Texas, Michigan, Georgia and Ohio. AP - In this Sept. 10, 2009 photo, job hunters wait in line to meet with recruiters at a job ...
AP - In this Sept. 10, 2009 photo, job hunters wait in line to meet with recruiters at a job ...
The Labor Department also reported Friday that 27 states saw their unemployment rates increase in August, and 14 states and Washington D.C., reported unemployment rates of 10 percent or above.
The report shows jobs remain scarce even as most analysts believe the economy is pulling out of the worst recession since the 1930s. Federal Reserve Chairman Ben Bernanke said earlier this week that the recovery isn't likely to be rapid enough to reduce unemployment for some time.
The jobless rate nationwide is expected to peak above 10 percent next year, from its current 9.7 percent.
"You are seeing the pace of job losses slow a little bit," said Mike Lynch, a regional economist at IHS Global Insight. But states "are not out of the woods yet."
4. do #'s reflect all aspects of undreremployment ?
Iam curious if they are including those who are forced to now work part time that rather work full time ? Also those who employed have taken jobs not within their field of expertise and making 50% less then they would if they could work within the job thay have gone to college or trade school for ? So many ?'s so few answers , Iam a 52 year old father of two young children and mny family is as close to becoming homeless as one can be . My heart cry's out for this nightmare to end . Iam only working 2 days a week at a $10 an hour job ,I have to commute 40 miles to the job, I have been looking tirelessly for a job in the town I live and apprently in this economy at 52 you are over the hill ! I do not believe any of the applications I have filled out ever where reviewed closely ! Iam living in a nightmare to which it seems no end is soon to come ? I've ran out of tears and out of prayers all thats left is anger at the situation I have found my family and myself in ! Take Care NikRik
3. Double digits? This county has been in double digits unemployment since
December 2008. Normally we have a cycle in this rural part of TN. Unemployment peeks in January then drops significantly through out the year. There have been years where the unemployment peaked in January at 10% then dropped that same year to as low as 3 or 4%.
But recently this cycle has disappeared. The high peek came in December and instead of rapidly dropping, it continued to climb to 17.4%. That's what the county reports so you know it is even higher.
With a 17% unemployment rate what are the odds we are going to get a job?
These are some very tough times for us middle class folks.
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