Dec. 18 (Bloomberg) -- Unemployment declined in 36 U.S. states in November, with Kentucky and Connecticut posting the biggest declines from a month earlier. Kentuckyâs jobless rate fell to 10.6 percent from 11.3 percent the previous month, the Labor Department said today in Washington. Unemployment in Connecticut dropped to 8.2 percent last month from 8.8 percent. South Carolina and Florida registered jobless rates that were the highest since data began in 1976. âThe broad phenomenon across the U.S. is that the pace of layoffs has slowed considerably but thereâs not much new hiring going on,â Steve Cochrane, director of regional economics at Moodyâs Economy.com in West Chester, Pennsylvania, said before the report. âWeâre seeing revenues continue to come in below expectations in almost every state.â Unemployment close to a 26-year high is a blow to states, whose budgets have been strained by the recession that started two years ago, as tax revenue slows and more is paid out in jobless benefits. The U.S. unemployment rate is forecast to exceed 10 percent through June, limiting consumer spending as the economy recovers. The jobless rate in the U.S. fell to 10 percent in November from 10.2 percent, the Labor Department said Dec. 4. A lack of job creation was one reason Federal Reserve policy makers this week said they will keep their benchmark interest rate low for an âextended period.â http://www.bloomberg.com/apps/news?pid=20601087&sid=aUnci99IPZek&pos=3 Should be good news for people seeking a job.
You are all correct. Of course more people are employed now. Retail Holiday help one and all. Once the after Christmas sales are over, unemployment will rise again.
its like saying i had cancer over my whole body and now i have cancer on 99% of it. its so meaningless its pathetic and laughable. wether we have 10% or 9.3 unemployment who cares.its all terrible. its only talked about for hype puposes
A lot of money is getting poured into defense. Obama knows that bringing back troops and cutting back on military would send a lot more people out of work, which is why he doesn't do it. Many of the major defense contractors around the government sector are hiring and getting new contracts. I have a feeling it stay that way for a while and once things start to recover more, Obama will pull back. The public sector is still in the ditch however. But maybe not so with his new "civilian military" or whatever the hell it is that his overactive imagination came up with.