Friday, July 22, 2011

Jobless Rate Rises in June In 28 States, Falls in Eight

The Wall Street Journal reports:
The unemployment rate increased in 28 states in June, reflecting the rise in the national rate to 9.2% from 9.1% over the month, the Labor Department said Friday.

While 14 states saw their unemployment rate hold steady, eight logged decreases.

The U.S. economy added 18,000 jobs in June—and a monthly average of just 21,500 over the past two months—a sluggish pace that has raised questions about the momentum of the nation's economic recovery.

The regional unemployment data show that the states hardest hit by the recession continue to have the toughest road to recovery.

For instance, California, Florida and Nevada—among the states most battered by the housing bust—all had unemployment rates well over 10%. Nevada, at 12.4%, continues to have the nation's highest unemployment rate, as the near-halt in homebuilding, and a steep drop in construction jobs, both weigh heavily on the state's economy.
Hope and change!