Economists Expect a 6.8% Unemployment Rate, Data on Dec. 5th

A polling of economists are now expecting the unemployment rate to jump to 6.8% for November. 6.8% is the median.

U.S. payrolls probably shed 316,000 jobs in November, following October's drop of 240,000 jobs, according to economists polled by Reuters. The unemployment rate is seen rising to 6.8 percent in November from October's 6.5 percent

This would be the worst unemployment rate since 9/11.

Goldman Sachs predicts a 9% unemployment rate in 2009.

Another estimate is factory orders, which economics are expecting a 4.3% decline for January.

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Is that all?

MI and RI tied for first place with CA breathing down our necks.

Alabama 5.6%
Alaska 7.4%
Arizona 6.1
Arkansas 5.4
California 8.2%
Colorado 5.7%
Connecticut 6.5%
Delaware 5.4%
D.C. 7.4%
Florida 7.0%
Georgia 7.0%
Hawaii 4.5%
Idaho 5.3%
Illinois 7.3%
Indiana 6.4%
Iowa 4.4%
Kansas 4.9%
Kentucky 6.8%
Louisiana 5.5%
Maine 5.7%
Maryland 5.0%
Massachusetts 5.5%
Michigan 9.3%
Minnesota 6.0%
Mississippi 7.2%
Missouri 6.5%
Montana 4.8%
Nebraska 3.6%
Nevada 7.6%
New Hampshire 4.1%
New Jersey 6.0%
New Mexico 4.4%
New York 5.7%
North Carolina 7.0%
North Dakota 3.4%
Ohio 7.3%
Oklahoma 4.3%
Oregon 7.3%
Pennsylvania 5.8%
Puerto Rico 12.0%
Rhode Island 9.3%
South Carolina 8.0%
South Dakota 3.3%
Tennessee 7.0%
Texas 5.6%
Utah 3.5%
Vermont 5.2%
Virginia 4.4%
West Virginia 4.7%
Wisconsin 5.1%
Wyoming 3.3%
(preliminary data for Oct 2008)

They're asking for another four years -- in a just world, they'd get 10 to 20 ~~ Dennis Kucinich

nice catch!

I wonder if they created that median projection by simply taking the states and dividing by 50!

So if you lose your job and your house

move to Wyoming?

Maximum jobs, not maximum profits.

Unemployment = Blue States

Unemployment rates in Red States are generally lower.
I don't think that's a reflection of policies as much as voting patterns.

Please explain

Since I live in a blue state and tend to vote red.....I'm curious. What in the voting patterns of a red state do you think keeps employment at bay?

Maximum jobs, not maximum profits.

theory goes

the more voters are concerned about economic issues, the more they vote Democratic.

But, those red states also are not huge sanctuary illegal immigration states and they also do not have huge manufacturing or are financial/tech hubs.

So, their population, labor supply, jobs are much more stable than other parts of the country.

More financially secure, less tendency to vote for economic reasons.

Of course on the economic reasons front I just read Obama appointed a La Raza corporate, cheap labor, open border, everything is about "hating brown people", illegal immigration is great agenda group (brought to you by the US Chamber of Commerce, the meat packing industry and Coca cola !) Director of Intergovernmental Affairs

So I guess the message is to not only make sure we have open borders but to also make sure the individual states don't try to do something about it. Lovely.