Nevada Passes Michigan In Unemployment Rate, Motor State Held Top Spot Since April 2006

[marmar]

from 247WallSt:



Nevada Passes Michigan In Unemployment Rate, Motor State Held Top Spot Since April 2006
Posted: June 18, 2010 at 1:05 pm


After four years as the state with the highest unemployment rates, Michigan has lost the top spot among states according to May numbers from the Bureau of Labor Statistics. Unemployment falls in 37 states during the month.

Nevada reported the highest unemployment rate among the states, 14% percent in May. It was the first month in which Nevada recorded the highest rate among the 50 states.

The unemployment rate in Michigan was still a stunning 13.6%.

The reason for a steadying of the rate in Michigan is probably that the auto firms did most of their layoffs in 2008 and 2009. Some of these companies are already hiring back very small numbers of workers. Several car companies will keep factories open through the summer months instead of going through several weeks of shut-downs as they have in years past.Nevada’s employment has relied very heavily on gaming and construction. Both have been severely undermined by the recession.

Rounding out the top unemployment among the four states with highest percentage of people out of work were California at 12.6% and Rhode Island at 12.3%. The states with the lowest unemployment were North Dakota at 3.6%, South Dakota at 4.6%, and Nebraska at 4.9%. ...........(more)

The complete piece is at: http://247wallst.com/2010/06/18/nevada-passes-michigan-in-unemployment-rate-motor-state-held-spot-since-april-2006/

[geckosfeet]

1. Good for Mich. Bad for Nevada. If people ever get jobs again they might

head back to Las Vegas, Reno and Tahoe.

[Hell Hath No Fury]

2. I was visiting Mom in Tahoe for memorial day weekend --

and it was DEAD -- hardly any traffic, vacancy signs at all the hotels, no one at the craft fairs. I really don't know how that town is hanging on. :(