Record Unemployment Rates in 8 States

Michigan again reported the highest jobless rate, 14.1 percent in
May. The states with the next highest rates were Oregon, 12.4 percent;
Rhode Island and South Carolina, 12.1 percent each; California, 11.5
percent; Nevada, 11.3 percent; and North Carolina, 11.1 percent. Six
additional states and the District of Columbia recorded unemployment
rates of at least 10.0 percent. The California, Nevada, North Carolina,
Oregon, Rhode Island, and South Carolina rates were the highest on re-
cord for those states. Florida, at 10.2 percent, and Georgia, at 9.7
percent, also posted series highs. Nebraska and North Dakota registered
the lowest unemployment rates, 4.4 percent each. Overall, 12 states
and the District of Columbia had significantly higher jobless rates than
the U.S. figure of 9.4 percent, 29 states reported measurably lower rates,
and 9 states had rates little different from that of the nation.

How can the US be in a recovery?

How can high unemployment, higher interest rates, higher commodities and tightening credit be healthy for an already beaten down consumer? I think the average person has lost more wealth in this recession than in the past. That is what is different. I don't think you can expect as fast a recovery as in the past. The move up in the markets is driven by government money being pumped into the system and global demand (ex US) for commodities to kill the $$$. The average person doesn't have the money to put in the market. People are just trying to survive the higher costs associated with day to day living and uncertainty for the future.

This problem is a lot deeper than I care to write about. Please share your thoughts.

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