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Unemployment Rate By State: June Update
The most recent BLS State unemployment data is out. At this rate of job loss, Michigan will see 100% unemployment in about one year (give or take). Otherwise, state by state unemployment increased by 2.8% on average (unweighted) from May until June.
Some notable states June unemployment rates and May-June rate of change:
Michigan: 15.2%, 7.8%
California: 11.6%, 0.9%
Nevada: 12.0%, 6.2%
Texas: 7.5%, 5.6%
New York: 8.7%, 6.1%
Wyoming: 5.9%, 18.0%
Nebraska: 5.0%, 13.6%
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What about the short-covering call issued on Friday? I think this site will lose credibility making such calls.
you must be refering to our disclosure of a sharp increase in stock recall notices. ironically, those would have happened with or without us posting about them. whether our credibility (or your implied perception thereof) is impacted by presenting data, well, that we are not concerned about.
Friday, July 17, 2009
Market Plunge Prevention: Friday Lunch Edition
Posted by Tyler Durden at 12:16 PM
Rolling buy-ins compliments of our favorite TARP recipients and other are back in full force. If you are short, you are screwed. Get out of the market right now. From a reader:
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I am referring to the above headline, and the statement, "If you are short...Get out of the market right now.". That is a clear call to cover one's shorts. Presenting the data is fine, but making statements like the above is unnecessary.
If you want a website that will "make calls" as to what and when to buy and sell, there are many websites that do that. They cost money, as they should.
I didn't think any serious investors didn't understand that.
You could look up Hulbert for a starting list.
Trolling is bad karma.
TRUTH OF THE MATTER IS YOU DIDN'T JUST PRESENT THE DATA...THE HEADLINE INFERRED THE END OF THE WORLD FOR SHORTS....JUST SAYIN
Correction, u inferred from the headline the end of the world for shorts.
BTW, since the march lows, gunning for the shorts has been a legitimized as a market strategy. This site is merely pointing pointing out how coordinated (perhaps up to the highest level of government?) that market strategy has become.
the headline that said "stop trading?"
I don't understand the trolls that come here and complain. The amount of information that has been made available on this site over time is truly mind boggling. Have you checked out the Zero Hedge Scribd account? Almost anything ever posted can be found there.
Baaaahhaaaa!! Come on! I read this blog most every day. I didn't see any such short covering call. You need to quit picking that scab on your arm, get off your ass and do your own diligence. I don't see any trading service available on here.
I feel no desire to defend no one. I don't agree with everything posted on here by its authors or the commenteurs. But, this kind of stuff really pisses me off. Get a life.
how about overlaying the unemployment rate with NOD data.
Actions are inferred from statements that present facts. If one does not agree with the facts, one would infer an opposite action or no action at all. Tyler may or may not imply. Readers infer.
I infer from all the bitching that sale desks are getting desperate.
I notice, according to a fuller BLS report: http://www.bls.gov/news.release/empsit.nr0.htm
that hours worked per week fell another 0.1 hours in June.
I've forgotten the multiplier/workforce size, but that would translate to a hell of a lot of additional job losses and,presumably, decreased GDP.
If I recall correctly, for every .1 hours per week lost on average it represents a loss of 300,000 jobs. Now couple that for when we actually start to recover...that means that the folks who are working part-time now will instead have their hours ramped up vs. new hires being brought in. That bodes very ill for those on the unemployment lines...
-Silence
are you trying to connect reality to facts? yes you are right, but being right doesn't mean you will win
YEAH, the new site coloring is MASSIVELY BETTER!!
Glad to see you could dump the boxed format for all the comments as well. Whew, so much better, guys!!!
Cali is toast. The only good thing that Cali can export is those hot Cali girls with the accentuated breasts.
Will unemployment rate ever fall back to the historical average of 4.5%? Nope.
Depends on the new BLS Formula of the Month. Guesses on the next exclusion to be included?
As a guy in Michigan, I can attest to Tyler's estimate for 100% unemployment. What's worse is that there is a long way to go for Michigan. Most people in other states don't appreciate just how bad of a situation the automotive suppliers are in. Yeah, everyone knows it's bad..... but it is near collapse. If they start collapsing en-mass, they will take out totally unrelated businesses and cascade from there. I drove on a street in a what was once a nice suburb of Detroit and was shocked at all of the vacant commercial real estate. And what makes this area different from all the other commercial real estate busts going on right now is that NOTHING has been built there in over 25 years. The decay in Michigan is accelerating.
Profit
That's a really bad graph. The may/june change line is connected, somehow implying that it covers a continuous variable. obviously false.
Sorry, I don't like bad graphs.