A lot of individuals lost their jobs during the worst parts of the recession. Huge cash advancements were drawn for government stimulus programs, with the idea that jobs would be created and joblessness reduced. It did not work. Joblessness has actually gotten worse overall. This past month has been the worst for a while. There were 27 states that actually had a rise in unemployment. There were 10 states with no change, and 13 states with a decrease. The recession is supposedly over, yet the economy as a whole does not appear to be improving fast enough.
joblessness over August
The unemployment rate has shot through the roof over the last month. There were, according to CNN, 27 states which had a rise in unemployment in August. Nevada has been the hardest hit state in more than one category, as the state has an unemployment rate of 14.4 percent. The next worse off states are Michigan and California, with unemployment rates of 13.1 and 12.4 percent unemployment. These have been the hardest-hit states throughout the recession. There was even an auto bailout which saw billions in emergency loans go to Detroit.
Census accounted for deficits
The proximate cause, according to USA Today, was the end of the 2010 Census. The Census employed about 114,000 individuals nationwide. Jobs are slowly starting to be added by private employers. Having a pay day again must come as a relief to the 67,000 new jobs added by private employers. This was not unforeseen. It was predicted the Census concluding would add to unemployment, as there isn’t really enough instant money to hire all the workers that were laid off back to the payrolls.
Recent data was released indicating that the recession was supposedly over. However, it is difficult to reconcile that idea with the levels of joblessness and decreased spending and credit activity.
USA Today
usatoday.com/money/economy/2010-09-21-unemployment-rate-state_N.htm
CNN
money.cnn.com/2010/09/21/news/economy/state_unemployment/index.htm
