December State Unemployment Deteriorates: 44 States Report Employment Decreases
The BLS today released yet another data point confirming the double-dip is finally here: in December 44 states reported a statistically sginficiant decline in employment. "Over the year, 44 states experienced statistically significant changes in employment, all of which were decreases. The largest statistically significant job losses occurred in California (-579,400), Texas (-276,000), Illinois (-237,300), Florida (-232,400), and Michigan (-207,100). The smallest statistically significant decreases in employ- ment occurred in South Dakota (-10,900), Delaware (-12,100), and Montana (-13,700)."
Today's BLS commentary:
Regional and state unemployment rates were generally higher in December. Forty-three states and the District of Columbia recorded over-the-month unemployment rate increases, four states registered rate decreases, and three 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 was unchanged in December at 10.0 percent but was 2.6 percentage points higher than a year earlier.
We can not wait for the next few NFP numbers as the BLS and DOL
scramble to hide the fact that the jobless situation in America still
is very much hopeless and getting worse. Keep in mind there is a major upward revision to unemployment coming up in a few months.