The unemployment rate of 6.1% was unchanged in September, 2008, following a 0.4% rise in August. One year ago in September, 2007, the unemployment rate was 4.7%.
The number of unemployed person was little changed at 9.5 million. Over the past 12 months, the number of unemployed people has increased by 2.2 million and the unemployment rate has risen by 1.4%.
These numbers do NOT take into consideration the fact that Hurricane Ike made landfall in Texas. The Department of Labor considers people who miss work for weather-related events are counted as employed whether or not they are paid for the time off.
The industry that saw the most job losses was "Leisure and hospitality" with 154,000 additional jobs lost, for a loss of 1.2%.
Historical Unemployment Levels for the past 13 months.
AUGUST, 2008 REGIONAL UNEMPLOYMENT
Unfortunately information for regional unemployment is not available until about 30 days after the end of the month, yet the Department of Labor is able to release figures for national unemployment. It makes one wonder then, where the national unemployment numbers come from, if the regional numbers are not available until nearly 30 days later. Information for regional unemployment numbers for August was not released until September 30, 2008.
Sometimes you need to look at the entire picture to get an idea. In this case the states in red are in serious trouble by having a high 1 year change and/or a high unemployment rate. By having a high 1 year change, the Department of Labor can not say it is seasonal or due to weather such as hurricanes.
The highest rates of unemployment, well above the national average, are California, Florida and Nevada, with some regions above 10% unemployment, and one area reaching nearly 25%.
Some states however, have an large below average unemployment rate and have actually lowered the state unemployment. The government should be thinking of taking hard looks at Arkansas, Maine, and Oklahoma to see how they are doing this.
The two main states with the highest levels of "Bad Loans" currently are California and Florida. Construction in these two states, in addition to Nevada, at one time the highest state for construction recently, also see hits due to less construction.
Spendable money due to the economy has dropped, and thus "extras" in American's lifestyles will be cut to a bare minimum. In Nevada, and Florida their greatest state income and employers are in the tourism trade. With the "Leisure and Hospitality" industry loosing nearly 154,000 jobs in one month, it is not a wonder these two states are in serious unemployment trouble.
What is interesting to note, are the states with the highest levels of illegal immigrants also seem to have the highest rates of unemployment. Sanctuary States such as California, Florida, Illinois (Chicago), and Michigan (Detroit) among nearly 70 others are known as safer areas for illegal immigrants to reside, with greater opportunities for employment, without fear of deportation. Also historically, illegal immigrants take positions in hospitality (cleaners & housekeeping), construction/landscaping, and migrant positions on farms. These states are showing higher than average unemployment rates.
The state of Oklahoma has one of the hardest illegal immigration laws in the United States, yet their unemployment rate was 4.0% one year ago, and 3.8% currently.
What is interesting is in the Great Depression of the 1930s, the highest unemployment rates were in the midwest, specifically Oklahoma, Kansas, Iowa, etc. with all these people moving to California for work in the fields as pickers.
This time, it seems opposite. The highest unemployment rates seem to be in California, with the lowest unemployment rates in Oklahoma, Kansas and Iowa. Perhaps those who built their farms from the unemployed in the Depression, and all the money in CA, are now going to have to learn trades as pickers for those in the mid-west.
Funny ole' world, isn't it?
|PERCENT UNEMP |
|1 MONTH CHANGE||1 YEAR CHANGE|
The following cities, are those who show a -2.0% over the past year in unemployment levels. I originally had planned on doing 1.5% and above however, that itself would have been approximately 90% of the entire Regional Report.
|HIGHEST UNEMPLOYMENT MOVERS|
|REGION||IN THOUSANDS |
|PERCENT UNEMPLOYED |
|1 MONTH CHANGE||1 YEAR CHANGE|
|El Centro, CA||18.1||26.2||24.7||+1.5||+3.5|
|San Bernardino, CA||166.5||9.0||9.2||+0.2||+2.8|
|Yuba City, CA||7.9||11.9||11.2||+0.7||+3.2|
|Daytona Beach, FL||18.5||7.0||7.2||+0.2||+2.9|
|Fort Myers, FL||25.5||8.5||9.0||+0.5||+3.7|
|Palm Bay, FL||19.5||7.0||7.2||+0.2||+2.5|
|Palm Coast, FL||3.3||10.7||10.3||-0.4||+3.5|
|Port St. Lucie, FL||17.7||8.7||9.2||+0.5||+3.0|
|Punta Gorda, FL||6.3||8.7||9.2||+0.5||+3.4|
|Vero Beach, FL||6.2||9.4||10.0||+0.6||+2.9|
|Boise City, ID||13.6||4.1||4.7||+0.6||+2.2|
|Coeur d'Alene, ID||3.1||3.8||4.3||+0.5||+2.1|
|South Bend, IN||11.4||7.2||7.1||-0.1||+2.2|
|Las Vegas, NV||71.0||6.8||7.1||+0.3||+2.1|
|Rocky Mount, NC||7.0||9.6||9.9||+0.3||+3.6|
|Myrtle Beach, SC||9.3||6.0||6.6||+0.6||+2.1|