‘Recovery’: Unemployment Rises in 44 States
- Posted on August 17, 2012 at 4:22pm by
Becket Adams
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Unemployment increased in 44 states last month, proving that the rise in joblessness is being felt by everyone, according to a new report from Bloomberg.
Alabama and Alaska were hit the hardest, both registering a 0.5 percent increase in jobless claims, according to data released on Friday by the Labor Department. Meanwhile, California and Michigan led the 31 states that experienced payroll increases.
“Across the nation, the unemployment rate rose to 8.3 percent in July, a five-month high, even as employment increased by the most since February,” Bloomberg reports.
“Faster hiring is needed to spur consumer spending, which accounts for about 70 percent of the economy, and to help reduce elevated joblessness that remains a concern for Federal Reserve policy makers,” the report adds.
But — but — what about growing payrolls?
The gains are “probably not enough to make really significant sort of progress on improving unemployment rates,” Jeremy Lawson, senior U.S. economist at BNP Paribas in New York, told Bloomberg. “Firms are waiting on more clarity as to what general direction things are headed.”
That’s funny. That’s exactly what former New Hampshire governor and Romney surrogate John Sununu said on CNBC’s ‘Squawk Box” yesterday.
“Unemployment jumped to 8.3 percent in Alabama from 7.8 percent in June, and climbed to 7.7 percent in Alaska from 7.2 percent,” Bloomberg adds. “Nevada, where the rate rose to 12 percent from 11.6 percent, remained the state with the highest level of joblessness in the country.”
Which states have been hit the hardest? Rhode Island (10.8 percent) and California (10.7 percent). Which state has the lowest rate? It’s still North Dakota (although it’s rate increased from 2.9 to three percent).
“New Jersey’s jobless rate jumped to a 35-year high of 9.8 percent in July from 9.6 percent in June. The state lost 12,000 positions, including cuts in manufacturing, construction, and professional and business services, according to figures released by New Jersey officials yesterday,” the report continues.
“Unemployment in New York rose to 9.1 percent, the highest since 1983, and payrolls dropped by 3,700 workers,” it adds.
But do you know where the majority of cutbacks have been happening in New York? They’re happening at financial firms.
“Morgan Stanley has said its headcount will drop by about 700 in the second half, bringing total 2012 reductions to 4,000. Credit Suisse Group AG planned to eliminate 138 positions in New York starting this month. Deutsche Bank AG will cut about 1,900 jobs by year-end, mostly outside Germany,” Bloomberg reports.
However, before you get too down, there is a sliver of hope attached to the report: “Including the July gain, the U.S. has recovered 4 million of the 8.8 million jobs lost as a result of the 18-month recession that ended in June 2009.”
But that “sliver of hope” kind of falls apart when you realize unemployment has been above 8 percent for 42 consecutive months, which, as you know, is the longest it has been at that level since we won World War II.
“Growth in employment has been slow in recent months, and the unemployment rate remains elevated,” Fed policy makers said in a statement after a meeting held earlier this month.
No kidding.
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Front page photo source: The AP.
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Comments (89)
captquest
Posted on August 17, 2012 at 9:18pmInteresting, I was listening to my favorite commie community radio station the other day blaming our governor Rick Scott for the increase in Florida’s unemployment. They failed to mention this part, hmm.
Report Post »old white guy
Posted on August 18, 2012 at 12:16pmany number that states unemployment is below 18% is just bogus, government bafflegab.
Report Post »DownWithDems
Posted on August 18, 2012 at 4:46pmEveryone needs to see the new movie “2016”.
If you ever had doubts about Obama, this will confirm all.
Scary, very scary.
I heard many Obama fans in the theatre say they will
Report Post »NOT VOTE for Obama again.
turkey13
Posted on August 18, 2012 at 8:26pmHere in S. Oklahoma unemployment is 3.9%. Solo Cup Company, Wal-Mart and Home Depot have up permanent signs saying “Now hireing.” You should see our want ad for hireing, takes up a full page. The problem is they start at $8.50 an hr. and folks can make more than that on unemployment. The cost of living is much cheaper here a $60,000 home her will cost you $450,000 in DC.
Report Post »sillyfreshness
Posted on August 19, 2012 at 1:32amWhat “recovery”?
Report Post »68Patriot
Posted on August 19, 2012 at 1:50pmDOWNWITHDEMS: saw it last night. It was great. I think every American should go see this movie especially anyone on the fence and Conservative Democrats (I know, I know, that is an oxy moron but they think they are so let’s give them the benefit of the doubt and hope they lean right this time. If not then they will prove that they are in fact Morons).
I hope the TROLLS do and come back here to try an debunk anything from it. Most of it was Obama’s own words. Then common sense was applied to predict the future if he is re-elected. Not pretty.
68
Report Post »Tree_Butcher
Posted on August 17, 2012 at 7:48pmBut I thought the Central Committee, er, Government was supposed to Take Care of us? isn’t that their job? LOL!
Report Post »lukerw
Posted on August 17, 2012 at 9:44pm“Take care of you”… is Gangster Slang… for KILL!
Report Post »iampraying4u
Posted on August 18, 2012 at 5:32pmDrink more tea eat more chicken
Report Post »girlnurse
Posted on August 17, 2012 at 6:57pmWhen I was a teenager I and in my early 20′s I could ALWAYS find a way to make money between jobs or supplement a paycheck (legally). Now, when I try to think of a way to legally make money between jobs…the opportunities are SCARCE! Not to mention fear of the government hunting you down or closing down your lemonaide stand! The government is out of control! It should not be so difficult and feel like such an uphill battle to hold down a decent job and live your life. The government has stepped in and changed ALL the rules and turned us into something I do not recognize. If they make it as hard as possible to do things the right way they wear people down……AND then everywhere I go theres an ad to sign up for SS or welfare or foodstamps!!! People in this country are T.I.R.E.D.
Report Post »But I have such faith in the majority of the American people…and no matter what is happening NOW. Bring this country back and the majority will ALWAYS rather WORK HARD and be on the up and up!!
Oh yeah, you’re always going to have losers in any country…but I said MAJORITY. Lets do away with IRS, DHS, TSA, BIG GOV and get this country back to hard work and clean family livin!
BryanB
Posted on August 17, 2012 at 7:50pm@girlnurse
You are right absolutely right on the Money !!!!!!!
Now how do we fix this mess ??????
Report Post »girlnurse
Posted on August 17, 2012 at 10:39pmWe can start by getting rid of all the lawyers and politicians! Oh but they are one and the same:)
Report Post »Just hoping and praying we haven’t brain washed the masses too badly. Parents need to teach their kids about freedom/Capitalism and cut the government in HALF. Start manufacturing again…be business friendly and put America and Americans first! Everyone knows what we “need” to do…the question is. “Will we do it?”
DMANFLA
Posted on August 19, 2012 at 1:57pmGirlnurse, your first comment is probably the most important. When the US gov was made up of “citizen reps”, there was a vested interest to get OUT of Washington to return to your job, business or farm. Now with career politicians we clearly see why and how the founders had it right. I work in the medical field and I do not understand why if I gave away a pen and memo pad to a Dr, that is unfairly influencing them, but you can give cash to a politicians PAC and it does not. The foxes are in the hen house and have already eaten most of the productive hens. I can figure out what I WANT to do with my money better than a nanny state, and remember: The ones who WORK have to produce revenue before the gov can TAKE it and GIVE to the MOOCHER class. I don’t have the answer, but I think you have identified the problem.
Report Post »johna650
Posted on August 17, 2012 at 6:55pmIf the Bureau of Statistics used he same methodology today that they used in 1980 the unemployment rate would be 17% or more.
Report Post »Larry E
Posted on August 17, 2012 at 6:21pmWow, this is unbelievable. I mean Glorious Leader has told us about all the jobs he’s “saved or created”, so this can’t be true. Maybe a few hundred billion more dollars of “stimulus” will take care of things. Or maybe it’ll just bankrupt the country sooner which is what Glorious Leader seems to want.
Report Post »pudssweetie
Posted on August 18, 2012 at 4:31pmDid the stimulus help businesses? No, it only prolonged the inevitable. Many businesses ended up laying workers off or closing their doors after about 6 months, but to Obumbler it made it look like he saved jobs, when in reality he only prolonged their demise.
Report Post »Cuba_Libre
Posted on August 17, 2012 at 6:19pmThis is all a direct result of Congress and the Obama admistration’s failure to lead! Until we can vote them out in November, we should email them daily and remind them of their failures. Maybe then when they look back after losing the election, they might get it.. Blast email them all here: http://www.oneclickpolitics.com
Report Post »Vindex1776
Posted on August 17, 2012 at 6:18pmObama recently stated that the $80 billion auto bailout – 25 of which taxpayers will never see again – will be his model for how government interacts with business in the future. In other words, socialism is his plan for America. The OUST OBAMA COALITION needs help to make sure he does not get the chance to unleash his anti-capitalist plans on our country. Please join us today. http://www.oustobamacoalition.com
By the way, GM posted a 41% loss this quarter.
Report Post »Amarilloan
Posted on August 18, 2012 at 5:24pmAnd Obama’s still touting how great that bailout was for America. There was a time when flim-flammers were run out of town on a rail.
Report Post »KIOTI-TEXAS
Posted on August 17, 2012 at 6:04pmUnemployment is a lot higher than the Government is telling the American people,it is controlled by HUSSEIN OBAMA.. his.friends in the gov telling lies.The real numbers are around 20% or more…….
Report Post »Virginia Rebel
Posted on August 17, 2012 at 5:35pmI had an Obama campaign worker call me last evening and say that Obama has made unemployment go down and that it is now only 7.5%. I told her they were lying to her.
Report Post »cdb
Posted on August 17, 2012 at 5:27pmObama just loves to tell lies about all the thousands of jobs he has created since taking office. Well, I guess saying he is lying might be a stretch, since he has created thousands of jobs in the government at the IRS, the TSA, and Homeland security, just to mention a few places. Meanwhile, out there in the real world where the private sector is doing just fine according to Obama, Unemployment is running rampart, just like Obama wants’ it to be. You see, in his opinion, the more people dependant on his government for their survival, the more people who will feel obliged to vote for him. Ultimate goal for Obama? Drag this country to it’s knees and make it just another third world country, so everyone world wide will all be equal and alike. POOR AND DESTITUTE.
Report Post »AZfreeman
Posted on August 18, 2012 at 1:16pm“Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy, its inherent virtue is the equal sharing of misery.” Winston Churchill
Report Post »DMANFLA
Posted on August 19, 2012 at 2:02pmWell stated AZ. Another conservative leader who was constantly bashed by the left, whom history prove to be correct. It is amazing the quotes of Winston Churchill that are still relevant today. My favorite is: “If you are not a Liberal at 20, you have no heart. If you are not a Conservative by 40, you have no brain.”
Report Post »svan71
Posted on August 17, 2012 at 5:24pmon a lighter not gas and food prices are rising…
Report Post »svan71
Posted on August 17, 2012 at 5:21pm4 more years is all I can say…oh yea and its Bushs fault, almost forgot.
Report Post »hepbob
Posted on August 17, 2012 at 5:20pmWe tried our plan and it worked. America is in decline.
Report Post »watersRpeople
Posted on August 17, 2012 at 4:57pmThat’s because we never left the recession.
Report Post »Countrygirl1362
Posted on August 17, 2012 at 5:07pmYou mean we have gotten out of the depression we were in that the governement refused to admit to?
Report Post »bhelmet
Posted on August 17, 2012 at 4:56pmThe scariest comment – “Faster hiring is needed to spur consumer spending, which accounts for about 70 percent of the economy”. That SHOULD open eyes, yet many just snore away. We CANNOT spend our way to prosperity – as individuals or a nation.
Report Post »Rothbardian_in_the_Cleve
Posted on August 17, 2012 at 5:39pmSooner or later you have to make things people want and sell them beyond your shores. You have to have a comparative advantage in something. Right now we have absolute advantage in burger flippers, bankers, and bottom feeders.
Report Post »Diane TX
Posted on August 17, 2012 at 4:55pmCan’t we have the election next week so we can kick Obama out sooner? Another day with Obama as President is another day that makes me sad. :- (
Report Post »Best_Patriot
Posted on August 17, 2012 at 4:48pmhaving averaged over a dozen recent major polls, Real Clear Politics still has Obama in the lead.
Report Post »contkmi
Posted on August 17, 2012 at 5:00pmHow nice that you celebrate people being unemployed, the economy being in the crapper and our country being torn down by a dictator.
Report Post »13th Imam
Posted on August 17, 2012 at 5:02pmTaken from a poll of 3000 DEMOCRATS, 3 Independents, and 12 Republicans.The Obozo Takers are in a class all by themselves. No Class
Report Post »Blackhawk1
Posted on August 17, 2012 at 5:06pmKeep up the Obama optimism. It will just make the letdown for liberals that much larger after Nov 6 2012. The polls used are always skewed to the left.
Report Post »Individualism
Posted on August 17, 2012 at 5:13pm300 electoral votes for Obama he has already won and in the polls leads 7-10 points against Obamney.
Report Post »svan71
Posted on August 17, 2012 at 5:23pmproves how utterly stupid nearly half of our country truly is.
Report Post »Rothbardian_in_the_Cleve
Posted on August 17, 2012 at 5:26pm@INDY,
Huh, the election and electoral college vote has already happened? Can you provide a link to the news story? I must have dozed off and missed it.
Report Post »nobull14
Posted on August 17, 2012 at 5:37pmPolls me nothing !!!! When Reagan and Ocarter when up against each other for president .They said Ocarter was a head and going to win ? . People say one thing in public and vote there true feelings in private This BOOB in office has to go .
Report Post »13th Imam
Posted on August 17, 2012 at 5:43pmRemember, Indy is a Johnson/Paul Supporter. He /She / It said so.
Report Post »NHwinter
Posted on August 17, 2012 at 4:46pmAnd worse than those figures are the real unemployed and underemployed figures.
Report Post »Rothbardian_in_the_Cleve
Posted on August 17, 2012 at 5:24pmEven better…take the BLS (or BS if you prefer) data and you will see that total employment in the US is about what it was in 2003. We’ve wiped out a decade worth of jobs. HOWEVER, there are roughly 19M more people now than there were then. (non-census years are partially derived with birth-death model). Add to this the fact that the amount of part-time employees as a percentage of total labor participation has DOUBLED. It went from 2% to 5%. Now, unlike the full time job problem that spans many congresses and a couple presidencies…the part time shift in employments has happened ENTIRELY on Obama and the democratic watch. This shift is huge and it happened in THREE YEARS!!!! Another trend is that people are working longer. So full time jobs are not being created, part time work is filling the void. Contract work is filling a void. People work until they die. Someone should ask Biden about “summer of recovery 4”.
Employers are not expanding full time positions. They seek to either contract labor or add part time labor. The idea that we will grow the full-time, benefit earning, middle-class job market is a fantasy. In real terms it is shrinking. Cost of hiring people (obamacare) and costs of doing business in the USA makes it prohibitive to BUILD businesses paying living wages and full time benefits.
Report Post »contkmi
Posted on August 17, 2012 at 4:36pmAnd people wonder why I scoff at the reported unemployment number, the U3. That ain’t the real number, folks.
And the private sector is doing fine, gang!
Report Post »Eric_The_Red_State
Posted on August 17, 2012 at 4:36pmAs long as Obama is allowed to “Buy Votes” with welfare / foodstamps / handouts and Bailouts – he will be a dangerous man to beat.
Whoever wins this election will HAVE to figure out how to plug that hole in the ****
The American Republic will endure until the day Congress discovers that it can bribe the public with the public’s money.
Report Post »BryanB
Posted on August 17, 2012 at 5:44pm@Eric_The_Red_State
Unemployed People don’t want “Hand Outs”, they want Jobs.
You can have 47 Million People on Food Stamps, Vote for you, or against You. But you can’t have both. In other words, if 47 Million People believe Romney, will make them and their kids go Hungry, Romney will loose the election.
If Romeny puts out a plan to get People back to work, and then fixes the Food Stamp program, he will be President.
You can not cut People off of Food Stamps, with no Jobs to go to……….
Report Post »Rothbardian_in_the_Cleve
Posted on August 17, 2012 at 5:57pm@Bryan,
I get where you are coming from, but it is chicken and the egg somewhat. The existence of the 99′ers and the food stampers, medicaid, WIC, and the section 8 housing and so on has set a price point for people that the market won’t bear. People say that they get X for Y effort. Why would they take X(+ a little) for Y(- a bunch)?
People have to come to a realization that the labor market will only bear a certain value for their labor. So long as they can sell their labor (or lack thereof) for a higher relative price there is no reason for them to sell it in the open market at a higher cost to them (effort).
If you start to cut this, you push the labor/effort function towards equilibrium. People will HAVE to take lower paying jobs. It will create downward pressure for ALL OF US, but it is a competitive necessity as I don’t see our competitors hiking wages anytime soon. Companies are buyers of labor at a certain price. Once people have incentive to accept that price they work. Once companies need more labor they are forced to pay higher wages to attract talent. This is how the market worked for 190 years until we started paying people not to work.
Report Post »BryanB
Posted on August 17, 2012 at 6:46pm@Rothbardian_in_the_Cleve
I get where you are comming from.
The problem is, there are no Lower Paying Jobs. Businesses are still closing and laying people off.
As someone that has been out of work for almost 4 years, I can tell you for a fact, Jobs are hard to come-by.
Report Post »I went for a job as a Dishwasher in a restaurant, and there were over 50 people for that one Job. So People are wanting to work, at any Job they can find. But the Jobs have to be there for People to work at……..
AZfreeman
Posted on August 18, 2012 at 1:56pm“..Unemployed People don’t want “Hand Outs”, they want Jobs…”
I wish that were true. Unfortunately there are millions of punks who just want to draw a check from “Obsama’s stash”, AKA you and me. Around 50% of American households are now receiving government support of some sort (not counting SS). Who do you think they will vote for? Tipping point?
Eric- the original quote is from the 18th century Scottish philosopher Alexander Tytler.
“A democracy is always temporary in nature; it simply cannot exist as a permanent form of government. A democracy will continue to exist up until the time that voters discover that they can vote themselves generous gifts from the public treasury. From that moment on, the majority always votes for the candidates who promise the most benefits from the public treasury, with the result that every democracy will finally collapse due to loose fiscal policy, which is always followed by a dictatorship. The average age of the world’s greatest civilizations from the beginning of history has been about 200 years. During those 200 years, these nations always progressed through the following sequence: From bondage to spiritual faith; from spiritual faith to great courage; from courage to liberty; from liberty to abundance; from abundance to complacency; from complacency to apathy; from apathy to dependence; from dependence back into bondage.”.
…rf
Report Post »BryanB
Posted on August 18, 2012 at 7:22pm@AZfreeman
No…… Poor People would rather go to work, even they know a Pay Check is more then a Welfare Check or Food Stamps.
In the good times where do you think companies like Walmart got employees from ? You don’t see Walmart recruting from the local Country Club ?
And if you would have ask Poor People about the economy in 2005 and 2006, they would have told you something was wrong, because they saw their rents doubling and even tripling, with no increases in wages. While they were being forced into government housing, and Food Stamps, to keep their kid from going hungry.
Ron Paul lost the bid for President because People saw him as a threat to their families. People saw their families and kids being homeless and hungry. Ron Paul had no plan for the economy or Jobs. Thats why Romney must have a Jobs Plan and not another Food Stamp and Welfare Plan……….
Report Post »GaryInTheMiddle
Posted on August 17, 2012 at 4:35pmThanks Obutthead. Your doing a heck of a job.
Report Post »rastamark
Posted on August 17, 2012 at 4:35pmStill waiting on the summer of recovery. If only cool slogans translated into reality….
Report Post »Individualism
Posted on August 17, 2012 at 4:29pmi guess it has to get allot worse for a revolution to start and a rollback.
Report Post »Armyduderetired
Posted on August 17, 2012 at 4:41pmCowBoy’s and muslims?
Report Post »13th Imam
Posted on August 17, 2012 at 4:44pmYou are obviously too dense to join the TEA Party Revolution. As a OBlameo supporter, you love a high misery index. Go Figure
Report Post »Individualism
Posted on August 17, 2012 at 4:56pmi am not on the kill darky crusade. i am fine with gold and silver soon to go up with qe3 plus double money on intrade bet for obama relection.
Report Post »Armyduderetired
Posted on August 17, 2012 at 5:13pmYou are correct! Now how about that revolution?
Report Post »Rothbardian_in_the_Cleve
Posted on August 17, 2012 at 5:35pm@individualism,
I hope you’re physical. Contracts 10-20x delivery and has been for a few years now. Someone will be left holding the bag. Gold is getting completely manipulated by central bank desks and all the physical is ending up in the BRICs.
For the rest of you look at platinum. Also, as the dollar gets closer to losing reserve status check out WTI straddles and writing puts.
Report Post »team1blazer
Posted on August 17, 2012 at 4:27pmGee Whiz folks, why talk about the economy, when so many questions ramain about Romneys tax returns?
Report Post »WithoutGuile
Posted on August 17, 2012 at 5:10pmYou are kidding right?
Report Post »Tri-ox
Posted on August 17, 2012 at 4:26pmOh goody – only 13 more states, and obama‘s ’57 state-plan’ will be full implemented!
If we are to survive as a nation, obama must be removed from power.
Report Post »pamela kay
Posted on August 17, 2012 at 4:38pmLOL! I agree. I hope and pray that we can make that happen.
Report Post »draginass
Posted on August 17, 2012 at 6:03pmWhat and put Obutthead 2 in office. The only difference between Outthed and Oromni is skin color, and socialism makes no distinction there.
Report Post »