Friday is always the day for bad news and buried news and today is no exception. The BLS has unemployment statistics. Many areas are exceeding 10% unemployment rates, ya know that magic number that wasn't supposed to hit so soon. The national rate is still hovering around 9.5%.
- Michigan 15.2%
- Rhode Island 12.4
- Oregon 12.2%
- South Carolina 12.1%
- Nevada 12.0%
- California 11.6%
- Ohio, 11.1%
- North Carolina 11.0%
- Florida 10.6%
- Georgia 10.1%
- Delaware 8.4%
It seems North Dakota is the only state with an increase, 4.2%.
Michigan jumped 1.1% in a month and so did Wyoming 0.9%, and West Virginia, 0.8%.
Thirty-eight states and the District of Columbia recorded
over-the-month unemployment rate increases, 5 states registered
rate decreases, and 7 states had no rate change, the Bureau of
Labor Statistics of the U.S. Department of Labor reported today.
Over the year, jobless rates were higher in all 50 states and the District of Columbia. The national unemployment rate, at 9.5 per-cent, was little changed between May and June, but was up 3.9 percentage points from a year earlier.
In June, nonfarm payroll employment decreased in 39 states and the District of Columbia, increased in 10 states, and was unchanged in 1 state.
The largest over-the-month decrease in the level of employment occurred in California (-66,500), followed by Texas (-40,600), Ohio (-33,000), and Michigan (-31,300). Kansas experi-
enced the largest over-the-month percentage decrease in employment (-1.4 percent), followed by New Mexico (-0.9 percent), Michigan (-0.8 percent), and Wyoming (-0.7 percent).
The largest over-the-month increases in employment occurred in North Carolina (4,700),Mississippi (4,500), Arkansas (3,400), and Montana (2,700).
Montana (+0.6 percent) experienced the largest over-the-month percentage increase in employment, followed by North Dakota (+0.5 percent) and Mississippi (+0.4 percent).
Over the year, nonfarm employment decreased in 48 states and the District of Columbia, increased in 1 state, and remained unchanged in 1 state.
The largest over-the-year percentage decreases occurred in Michigan (-8.1 percent), Arizona (-7.4 percent), Nevada (-6.2 percent), and Oregon (-5.6 percent).
Only North Dakota (+1.6 percent) reported an over-the-year percentage increase, while Alaska remained unchanged.
Hopefully manfrommiddletown will do a more thorough analysis. My question is how many people fell off the rolls, their benefits ran out and thus are not counted?