•Unemployment Increases in 27 U.S. States; California & Nevada Reach ALL-TIME Highs

Discussion in 'Politics & Religion' started by ByLoSellHi, Sep 18, 2009.

  1. http://www.bloomberg.com/apps/news?pid=20601087&sid=aXkFNFPR0gsY

    California, Nevada Reach Record Unemployment Levels (Update1)
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    By Timothy R. Homan

    Sept. 18 (Bloomberg) -- Unemployment rose in 27 U.S. states in August, with California and Nevada reaching record levels of joblessness.

    Rhode Island rounded out the list of states with the highest level of unemployment since data began in 1976, the Labor Department reported today in Washington. California’s unemployment rate reached 12.2 percent and Nevada’s climbed to 13.2 percent.

    The job market is showing signs of stabilizing as reports indicate economic growth is resuming this quarter. Economists surveyed by Bloomberg News this month said the unemployment rate nationally will reach 10 percent this year, a reminder that consumers are unlikely to lead the recovery.

    “There’s still a fair amount of weakness in some of the larger states,” said Steven Cochrane, director of regional economics at Moody’s Economy.com in West Chester, Pennsylvania. “State finances are probably going to be among the last of all the various components of the broad economy to turn around.”

    The number of states with at least 10 percent unemployment fell to 14 from 15 as Indiana’s rate dropped below that threshold. The jobless rate nationally reached a 26-year high of 9.7 percent in August, the Labor Department reported earlier this month.

    Unemployment in the District of Columbia also exceeded 10 percent for a fourth consecutive month, rising to 11.1 percent from 10.6 percent.

    Michigan, the heart of the U.S. auto industry, continued to surpass all states with an unemployment rate of 15.2 percent in August, up from 15 percent. Nevada was second.

    To contact the reporter on this story: Timothy R. Homan in Washington at thoman1@bloomberg.net
    Last Updated: September 18, 2009 10:43 EDT
     
  2. These numbers include the illegal immigrants that shrub, the republicans and their business donors imported?
     
  3. Nope. Illegal immigrants are not included in the government's rather narrow definition of unemployment (nor are 'discouraged' workers [those who have given up looking], the underemployed [e.g. someone working 15 hours per week making one-third what they used to at their former full time job], and the kicker - those whose unemployment insurance benefits have run out]).
     
  4. FYI: Illegal immigration peaked in 1996. Who was President then?

     
  5. I hear some people complain about people who are not actively looking for jobs not being counted as unemployed. They are correct to not count them. How do you expect to find a job if you are not even looking?

    This might not be the best comparison but consider this (numbers pulled out of my ass by the way):

    40% of the population does NOT have a cell phone. This does not necessarily mean that the SUPPLY of cell phones is too low. If that 40% of the population is not actively seeking a cell phone, then supply = demand.

    Do you follow my logic? Like I said, might not be the best comparison, but the logic remains.

    The unemployment rate is like a measure of supply and demand for jobs. I would argue that people not actively looking for a job are effectively saying they are not in demand of a job, and should therefore not be counted as unemployed.
     
  6. The cell phone issue is important, but for a different reason, IMO.

    As more and more people live with a cell phone only, and no land line, and as the number of 'nomadic' people increases, especially the 20 and 30 somethings, and considering that the BLS does not call cellular phones to conduct their surveys upon which to conduct their household data, AFAICR, there's a significant sampling error in BLS data that understates unemployment.
     
  7. Being as "Da Gubmint" is the last to get on board technology, (discounting the Military and the Spooks), I'd say yea, that's probable in the extreme.
    When Reagan's staff moved into the WH, all they found were old rotary dial phones, and type writers with the old ribbons.
     
  8. I don't doubt that government unemployment numbers are understated. But it's not due to not counting those who are not actively looking for a job. Consider the following (again, numbers out of my ass):

    USA population = 500 million

    Say there are 250 million BILLIONAIRES in the USA, who for obvious reasons are not looking for a job. Does this mean that the unemployment rate is 50%?
     
  9. So if we count all those people, unemployment is what...80%?
     
  10. I saw those lines early this morning about 5:00am when I was going out to surf Leo Carrillo.

    I thought it was the Methadone lines.



     
    #10     Sep 18, 2009