This page has been archived and commenting is disabled.
BLS Reports Improvement In State Unemployment Rates
Latest data out of the BLS is in tune with the most recent miraculous reading of national unemployment, a number which as highlighted allows more ways to be gamed than not. In any case, for those who believe BLS data, here are the most improved states (those farmers must sure be hiring ahead of the winter season):
- Louisiana: from 7.4% to 6.7%
- Nebraska: from 4.9% to 4.5%
- Kansas: from 6.8% to 6.3%
- Connecticut: 8.8% to 8.2%
- Kentucky: 11.2% to 10.6%
States where labor deterioration persisted were Florida (11.5%), Missouri (9.5%), and South Carolina (12.3%).
The hardest hit states continue being Michigan, Rhode Island, California, Nevada and South Carolina.
And this is the BLS' official announcement:
Regional and state unemployment rates were generally lower in November. Thirty-six states and the District of Columbia recorded over-the-month unemployment rate decreases, 8 states registered rate increases, and 6 states had no rate change, the U.S. Bureau of Labor Statistics reported today. Over the year, jobless rates increased in all 50 states and the District of Columbia. The national unemployment rate edged down in November to 10.0 percent, 0.2 percentage point lower than October, but 3.2 points higher than November 2008.
Michigan again recorded the highest unemployment rate among the states, 14.7 percent in November. The states with the next highest rates were Rhode Island, 12.7 percent, and California, Nevada, and South Carolina, 12.3 percent each. North Dakota continued to register the lowest jobless rate, 4.1 percent in November, followed by Nebraska, 4.5 percent, and South Dakota, 5.0 percent. The rate in South Carolina set a new series high, as did the rate in Florida (11.5 percent). In total, 31 states posted jobless rates significantly lower than the U.S. figure of 10.0 percent, 9 states and the District of Columbia had measurably higher rates, and 10 states had rates that were not appreciably different from that of the nation. (See tables A and 3 and chart 1.)
Over the year, 45 states experienced statistically significant changes in employment, all of which were decreases. The largest statistically significant job losses occurred in California (-617,600), Florida (-284,800), Texas (-271,700), Illinois (-250,400), Michigan (-240,200), and New York (-210,500). The smallest statistically significant decreases in employment occurred in South Dakota (-6,800) and Vermont (-7,800).
- 4900 reads
- Printer-friendly version
- Send to friend
- advertisements -



The Federales say , 'Who ya goin' believe.. us? or your lyin' eyes?'
NSA pay taxes bub.
All due to birth/death model better known as BS
+- 125,000 jobs?? BLS will smooth it in January / July
Really?
http://www.shadowstats.com/alternate_data
http://www.dailyjobcuts.com/
That daily job cuts website is awesome, ty.
It's all good..
Another propaganda report proving once again the Government thinks we really are all idiots.
Real unemployment rate 18%.
Trust me...Michigan much worse off than the "reported" 14.7.......Detroit alone will have tanks on the streets in the near future.........
Detroit's Unemployment Nears 50%
The unemployment situation in Detroit has truly become dire as the "real" unemployment number climbs to 45 percent.
Detroit News: Despite an official unemployment rate of 27 percent, the real jobs problem in Detroit may be affecting half of the working-age population, thousands of whom either can't find a job or are working fewer hours than they want.
Using a broader definition of unemployment, as much as 45 percent of the labor force has been affected by the downturn.
And that doesn't include those who gave up the job search more than a year ago, a number that could exceed 100,000 potential workers alone.
The whole of Michigan is in a bad way and Detroit is positively 3rd world. I know they are filming the Red Dawn remake there. After seeing the production stills my first thought was "Hey I wonder if we could sell Detroit to the Chinese?" They have been in a long term decline and this downturn is only throwing gas on the fire.
Detroit has been in the gutter for decades. People there are subdued. In short, "we used to dis shit man, ain't nuttin new". Don't expect an uprising from our lowerclass or minorities. If it must happen it will have to come from the "middle class" who "don't want to join them". There's not much "middle class" in Detroit.
A few things to keep in mind too- there are no grocery stores in Detroit. Services are being cut way back. The public school system is worse than Riker's Island and people are armed to the teeth. When the money,food and other misc. hand-outs run out---what will go down will be down right scary! It will make the 60's riots look like a block party. Ohio is a close second to Michigan right now too. As I have said before, if you want to understand what is coming to America---go look at Michigan and Ohio. It is ground zero and the ripples outward will start looking like waves soon. Every time I go back its a wake up call. I believe people will understand this much sooner than later. Detroit is the real world we are facing for America in the next few years.
Time to bring in OCP to help out Old Detroit
http://anonymousmonetarist.blogspot.com/2009/11/citizen-step-away-from-dump-truck.html
Thank you! Glad to know that talking about needing OCP is not limited to my friends! Halfway to Robocop, have a nightmarish dystopia in Detroit now just need ED209...
+2
Nice reference. Made me laugh.
Reminds me of the Amazing Robocop Rap: http://www.youtube.com/watch?v=wUnMF7dV86k
(Amazing Predator Rap is the badder sibling however)
I agree about Ohio. I was in the downtown Cleveland area yesterday on business. Now, usually I try to avoid the area as much as possible, but that just leads to greater shock when I see how the Public Square area has changed. A whole bunch of people standing around with nothing to do. Traffic at the 1 o'clock hour was very light - a ghost town compared to the late 90's or 2000.
So, Detroit is going to get RoboCop bad?
I am north of columbus and we have U6 running at 25% and its really a garage sale economy here let me tell ya
oh, BS...Detroit happens in places with Detroit's demographics.
Places with say, Oslo's demographics will fare much better and always have.
deathofjohannesburg blog has Detroit's future
Detroit once a great America City self imploding. Thanks to the politicians we send to Washington, blind, greedy and total corrupt/incompetent.
It's just the effect of the local Walmart hiring seasonal/holiday (ie. temporary) workers.
This isn't surprising or anything to cheer about. Surely some people got hired on part time to work the holiday season. Christ, all those fin services bonuses have to trickle down to somewhere. I would love for one of the propagandists to tell us all where the organic growth (see sustainable) in the economy is, outside Iran, Iraq and Afghanistan of course.
Nah the bonuses are going to panic rooms and security systems.
Plus the Salvation Army Bell Ringers!
Look at Detroit's primary 2 congressmen...John Dingell and John Conyers.
Dingell has been in the House for nearly 45 years (longest of any member ever) and the seat has been in the family since the start of the first Great Depression 76 years ago (quite literally as his dad was elected in 1933).
Conyers is a self-proclaimed Communist and his family is more corrupt than the La Cosa Nostra. In fact, the guy's wife is now in jail for bribery and I am not sure how he was not indicted for filing false Congressional income statements and/or phony tax returns.
Sometimes you reap what you sow.
you forgot Debbie Stabenow and Carl Levin!!!
Ah! Here is where all the jobs are!
'At present, there are 104,000 Department of Defense contractors in Afghanistan. According to a report this week from the Congressional Research Service, as a result of the coming surge of 30,000 troops in Afghanistan, there may be up to 56,000 additional contractors deployed. But here is another group of contractors that often goes unmentioned: 3,600 State Department contractors and 14,000 USAID contractors. That means that the current total US force in Afghanistan is approximately 189,000 personnel (68,000 US troops and 121,000 contractors). And remember, that’s right now. And that, according to McCaskill, is a conservative estimate. A year from now, we will likely see more than 220,000 US-funded personnel on the ground in Afghanistan.'
How about that for a 'stimulus package'?
'The private security industry and the US government have pointed to the Synchronized Predeployment and Operational Tracker(SPOT) as evidence of greater government oversight of contractor activities. But McCaskill’s subcommittee found that system utterly lacking, stating: “The Subcommittee obtained current SPOT data showing that there are currently 1,123 State Department contractors and no USAID contractors working in Afghanistan.” Remember, there are officially 14,000 USAID contractors and the official monitoring and tracking system found none of these people and less than half of the State Department contractors.'
And no peasky government regulation, either! If this isn't the next bubble, I don't know what is.
http://counterpunch.com/scahill12182009.html
No bubble here. Just an unbridled, shameless and in-your-face mugging of the American taxpayer.
I know some people who directly profit off of that by working for their parent's company.
Incidentally, they are over on TF arguing against minimum wage increases and behaving as if they earned inherited wealth.
Nothing drags out the guillotines faster than spoiled rich legacy brats trying to play robber baron capitalist and talking about "free markets"
Wait...we should be agitating for an increase in the minimum wage?
The key is to report how much the labor force contracted, it's rather significant.
Ah, the government BLS and the smartest economists in the world. From Nathan Martin’s Economic Edge today:
The funniest article of the morning has to be about the losses that Harvard University is incurring. Turns out that while Larry Summers was there he was buying interest rate swaps (derivatives) betting that interest rates would rise. How did that turn out?
Harvard Swaps Are So Toxic Even Summers Won’t Explain
The swaps, which assumed that interest rates would rise, proved so toxic that the 373-year-old institution agreed to pay banks a total of almost $1 billion to terminate them. Most of the wrong-way bets were made in 2004, when Lawrence Summers, now President Barack Obama’s economic adviser, led the university. Cranes were recently removed from the construction site of a $1 billion science center that was to be the expansion’s centerpiece, a reminder of Summers’s ambition. The school suspended work on the building last week.
“For nonprofits, this is going to be written up as a case study of what not to do,” said Mark Williams, a finance professor at Boston University, who specializes in risk management and has studied Harvard’s finances. “Harvard throws itself out as a beacon of what to do in higher learning. Clearly, there have been major missteps.”
That’s right, they had to pay $1 Billion just to terminate them! And this is the guy running our economy, Obama’s right hand man…Of course the irony is that not only is Summers running our economy, but that Harvard continues to be the source of education for the supposed top economists in the world.
http://economicedge.blogspot.com/
That's our Larry...."smartest.guy.in.the.room."
I'm not saying this to defend Larry Summers, but 99% of the people back in 2004 expected interest rates to rise in the future. That's why so many bought interest rate swaps. Of course little did they know that ZIRP by the Fed would torpedo those bets. It isn't just Harvard that lost big time. Just ask the residents of Montgomery County AL who are being ransacked as we speak. Since the Federal Government has backstopped trillions of derivatives that are likely to trigger payouts, you can bet that the federal taxpayers will be ransacked for those trillions in the future. The circumstantial evidence is enough to tell me that this whole "game" was planned.
"I'm not saying this to defend Larry Summers, but 99% of the people back in 2004 expected interest rates to rise in the future."
Oh..Bulltwacky!!!!! If memory serves, it was Iris Mack, the second Black-American woman to receive her doctorate in applied math at Harvard, who suggested to him that his investment strategy was suicidal (and some of those Harvard Fund traders out of their depth).
He later had her fired, and Harvard settled her unlawful termination suit out of court (in her favor, 'natch!).
Nope...many back then were warning about credit derivatives and the horrors of structured financing, just as John Kenneth Galbraith detailed such goings on leading to the Great Crash.
Historically, this occurred at least once before, leading to the Great Depression (simply compare the structure of REMICs to those mortgage pool certificates back in the '20s).
Excuses for Summers, and his now-deceased uncle, Samuelson, just don't cut it, dood!
Looks like Jim Rogers was right when he said that we should all go out there and buy ourselves a tractor.
Is it true that in Detroit the Budweisser trucks have tailgunners?
can you say "seasonal" employment?
That's rich, glenlloyd! LOL, big guy!
Many states, as we know, simply do "household surveys" to arrive at their unemployment numbers (nevermind integrating those cumbersome unemployment insurance data) and then, if it's too high, simply "seasonally adjust" those numbers downward. (Of course, they choose the households which historically experience the lowest unemployment, 'natch!)
Funny how that seasonal adjustment always causes the unemployment number to shrink???
If you ever have someone tell you "unemployment is going down", refer here
http://www.bls.gov/news.release/empsit.t01.htm
and tell them that 41.2% of the American able-bodied adult population DOES NOT WORK, and that 83.2 million people are considered to be "not in the labor force" in this hellhole of a country.
See if their head doesn't consequently explode from having to process actual real information.
No longer qualifying for benefits or unemployable or ZERO jobs = no unemployment rate according to the .gov
tax receipts or ADP tells you all you really need to know
Good, then I no longer have to hear anymore crap that the states are broke and too undoubtedly the SSTF is again running windfall surpluses; OoOoOoOo happy days are here again
If you make widgets,you are not in business to trade NG. And if you use hedging for more than a quarter,then you shouldn't be in business. You should close down your widget manufactring and start trading NG.Why a quarter?since that gives you time to adjust your sales to your input pricing. And worse yet(I am not familiar with swaps much),if your hedging takes position that makes you pay if your position goes against you,then you might as well run a hedge fund. In another word:You take a hedge for a quarter that is more or less like an insurance cost. Clear cut expense that you can add to your cost,and not some form of betting on price direction. No sympathy for those CFO's who put their companies in such positions(or LS for that matter). They are either:1- incompetent,and in that case they can not cry foul. Or2-Corrupt:They know what would happened,but they have a vested interest in satisfying Wall st.(may be they have a lot of stock options at stake if they don't buy this garbage from Wall st.).But in all cases,crooks will always be there to sell you something that is basically worthless. And that is why companies hire supposedly smart people for top management.
Way to Go Biden. Did you find the money tree?Where's the money going to come from? Your deep pockets? – Found this – sums up essentially how I feel about people's involvement & government http://www.tictacdo.com/ttd/Improve-Government-Finance
I'm sure that Comcast will find a way to screw everyone over with this