Saturday, September 19, 2009
The Labor Department indicated an overall increase in unemployment in 27 states, a decrease in 16 and no change in 7. Record high jobless rates were reached in California (12.2%), Nevada (13.2%) and Rhode Island (12.8%); the highest since widespread state data was first reported in 1976. California’s rate was influenced by the state budget passed in July which closed a US$24 billion shortfall by cutting many state-provided programs which included many state jobs. Michigan, again, had the highest unemployment rate in August at 15.2% which is nearly double its August 2008 unemployment rate of 8.6%. North Dakota, again, had the lowest unemployment rate at 4.3%. The current national unemployment rate is 9.7%.
On the jobs-front, forty-two states lost jobs last month led by Texas, Michigan, Georgia, and Ohio, totalling over 216,000 jobs; eight states recorded increases in job positions. The biggest job gains were in North Carolina and Montana. Since the recession began in December of 2007, there have been nearly 7 million jobs lost nation-wide.
Data for September will be released in the first week of October.