When the Labor Department released the job data for the month of September, many experts were shocked at the unexpectedly poor numbers. As a result, the stock market took a hit on Friday.
Most experts believed that around 175,000 jobs were lost in September. However, the Labor Department said that job losses for September were actually more than 260,000. Compared to the 200,000 jobs lost in August, the unemployment probably appears to be getting worse instead of better.
Overall, the Labor Department says that the unemployment rate in the United States is 9.8%. That number was also higher than expected.
On the day, …read more

On Friday, the Labor Department will release its jobs report. While many economists view the possibility as unlikely, there’s a chance that the unemployment rate could top 10%.
Last month, the unemployment rate was 9.7%. Most experts believe that this month’s percentage will be about 9.8%. However, some experts believe this is the month that unemployment reaches double figures.
Even if this isn’t the month the jobless rate hits 10%, experts agree that it is only a matter of time. In fact, the peak of unemployment isn’t expected for another six months to a year.
While the recession has technically ended, the unemployed …read more

While the recession is technically coming to an end, unemployment continues to be a problem in the United States. According to the Labor Department, 27 states saw their unemployment rate rise in the month of August. Across the nation, 14 states now boast an unemployment rate at higher than 10%.
In August, 42 states lost jobs. Compared to July, there were 13 more states that reported job losses. The worst hit states were Texas, Georgia, Ohio and Michigan — in terms of the largest drop in net payroll.
Currently, the U.S. faces an unemployment rate of 9.7%. While that is a scary …read more

Stocks were up on Tuesday after good news from manufacturing industries, retail sales and Ben Bernanke. Bernanke, the Federal Reserve Chairman, said that the recession has “very likely over”.
The Dow Jones industrial average finished the day at 9,683.41 after rising 0.6%. That’s the highest the Dow has been since October of 2008.
The Russell 2000 jumped 0.8% to 604.84, while the Nasdaq composite index ended the day at 2,102.64 after rising 0.5%. The Standard & Poor’s index was up 0.3% to finish at 1,052.63.
While Bernanke said the recession was technically over, he did mention that unemployment remains a problem.
“It’s still going …read more

The latest report by the Labor Department indicates that the United States unemployment rate in August rose to 9.7%. That is the highest the unemployment rate has been since 1983 when it was higher than 10%. While the percentage increase appears negative on paper, there were some positive signs in the Labor Department report.
Experts estimated that 225,000 jobs would be lost in August. As it turns out, there were only 216,000 job losses. The slowing down of the job losses is a positive sign in terms of the economy stabilizing in the U.S. In fact, this quarter is expected to …read more

Not long ago, there were hopes that the unemployment rate in the United States would stay below 10%. Now it’s simply a matter of when rather than a question of if.
Fifteen out of the fifty states already have a 10% unemployment rate. Many other stats are right of the verge of hitting double figures.
Michigan has been the hardest hit, which isn’t surprising since the state has relied so much on the auto industry over the years. With GM and Chrysler both bankrupt, many Michigan workers lost their jobs. Currently, Michigan has an unemployment rate of over 15%.
Other states that have …read more

The reports are in and it seems like May did not go very well for the job market: in every state but Vermont and Nebraska, the unemployment rate increased, with many states posting record high jobless numbers. Vermont reported no change in its numbers and Nebraska’s unemployment rate decreased by a meager 0.1 percent.
 
Of all the states, Michigan is by far the worst off, featuring a staggering 14.1 percent unemployment rate that has risen from 12.9 percent the previous month. Oregon trails Michigan at a 12.4 percent unemployment rate, with thirteen other states suffering from unemployment numbers above 10 percent.
 
Many …read more

When it comes to the unemployment rate rising in the United States, literally no area in the nation is impenetrable. In February, each of the 372 metropolitan communities in the country saw an increase in their unemployment rate, according to a new report issued by the United States Labor Department.
As a whole, the United States has an jobless rate of 8.1%, which is the largest percentage the nation has seen in more than a quarter century. The bad news is that the unemployment rate is expect to continue to rise for the rest of 2009. When this year is reaching …read more

This time last year, no state in America had a jobless rate in double-digits. Currently, there are at least four states with a jobless rate of at least 10%: Michigan, California, Rhode Island and South Carolina. However, with jobs being lost every day, many other states will soon join that foursome.
Many industries across the nation have been hard hit especially anything related to housing, banking and manufacturing. Overall, almost no industry has been spared. In the first month of 2009, the only state that didn’t see an increase in unemployment was Louisiana.
Many economists believe that the jobless rate nationwide could …read more