bls

Bad News Friday - BLS Unemployment Statistics for July 17, 2009

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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%.

  1. Michigan 15.2%
  2. Rhode Island 12.4
  3. Oregon 12.2%
  4. South Carolina 12.1%
  5. Nevada 12.0%
  6. California 11.6%
  7. Ohio, 11.1%
  8. North Carolina 11.0%
  9. Florida 10.6%
  10. Georgia 10.1%
  11. 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%.

Regional and state unemployment rates were generally higher in June.

Thirty-eight states and the District of Columbia recorded

Unemployment Rate 9.5% for June

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The Bureau of Labor Statistics released the June 2009 unemployment statistics. The rate is unchanged at 9.5%. The long term unemployment has increased.

The number of long-term unemployed (those jobless for 27 weeks or more) increased by 433,000 over the month to 4.4 million. In June, 3in 10 unemployed persons were jobless for 27 weeks or more.

What's interesting is the number of people not in the workforce has increased 358,000.

The employment-population ratio, at 59.5 per-
cent, continued to trend down over the month. The employment-population ratio has declined by 3.2 percentage points since the start of the recession in December 2007.

According to Bloomberg of those left with a job, their hours are dropping as well as their wages:

Hilarious! Government blames "outreach" on unemployment hitting 5 year high!

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Hilarious! Talk about spin city! Now we know that the world has shifted to disposable workers (at least in the United States), contractors, temporary workers who are not eligible for unemployment benefits and a host of other manipulations to keep the unemployment statistics low.

Now check this out! Our government, in response to Weekly applications for jobless benefits soared to 448,000 last week, highest level since 2003 says:

The Labor Department reported Thursday that the number of applications for jobless benefits soared to 448,000, an increase of 44,000 from the previous week. That was far worse than the decline of 8,000 that economists had been expecting.

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