Signs of Economic Recovery: State Unemployment
The latest regional unemployment numbers are out and the news is decidedly better:
Twenty-one states recorded over-the-month unemployment rate decreases, 18 states and the District of Columbia registered rate increases, and 11 states had no rate change, the Bureau of Labor Statistics of the U.S. Department of Labor reported today.
The overall unemployment rate rose from 8.5% to 8.9%.
In April, Michigan reported the highest jobless rate, 12.9 percent. The states with the next highest rates were Oregon, 12.0 percent; South Carolina, 11.5 percent; Rhode Island, 11.1 percent; California, 11.0 percent; North Carolina, 10.8 percent; Nevada, 10.6 percent; and Ohio, 10.2 percent.
The worst unemployment appears to be in housing bubble states and states highly dependent on auto manufacturing.
North Dakota again registered the lowest state unemployment rate, 4.0 percent in April. The states with the next lowest rates were Nebraska, 4.4 percent; Wyoming, 4.5 percent; and South Dakota, 4.8 percent. Overall, 29 states had significantly lower jobless rates than the U.S.
These are primarily states with low populations.
Delaware’s unemployment rate is 7.5% in April 2009, an improvement from 7.7% in March 2009. (Yay us!) That’s still significantly worse than the 4.2% of April 2008.
Things are still bad out there, but this is a significant improvement. In March 2009 report, 46 states saw unemployment increases. I think this improved employment data fits with the improved right track/wrong track numbers we’ve seen in surveys recently.
So, Republicans, if you have a back-up plan to hoping Obama gets blamed for the economic crisis it’s probably time to dust it off.
You did not have much credibility but now you have lost what little you had.
The economy does indeed belong to Obama.
To ay by not getting any worse that something good is happening pure fantasy and rivals some of the rants of the old Communist Pravda.
10% unemployment is a virtual certainty and the length of unemployment is going to be longer than usual.
GM will go in to bankruptcy, more losses.
The EURO is climbing against the dollar.
There are still trillions in assets which need to be written down.
Home credit will be further diminished with credit card changes.
Virtually all states have budget shortfalls which will require higher taxes or layoffs or both.
All of Europe is in steeper decline which will delay recovery.
Mr. Obama is about to find out Presidents can’t always change the economy the way they want to but the economy can change who is President.
Nice try, but the economy is doing pretty poorly by all measures and we will have record taxes and deficits to show for it.
Mike Protack
And Mr. Shallow Bench is back, putting on display everything he doesn’t know about economics.
I can’t be the only one REALLY REALLY glad he isn’t in charge of money.
This is rich! Mr. Shallow Bench is saying we lack credibility when we post facts and figures. I know facts are like kryptonite to Protack, but give me a break!
I am in awe of the superpowers of President Obama who can cause a recession starting in December 2007. I am also thrilled to know that Bush II is responsible for the 2001 recession as well as the 9/11 attacks. Thanks Protack!