Unemployment

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.

The economic mavens in DC have totally lost it. Now an increase in unemployment will allegedly lead to a rebound in GDP??? And just who is supposed to buy this garbage any more?

Developing story: this means that unemployment will either be allowed to reach its true, "unadjusted" levels in the low teens shortly, or will be kept artificially low for 2-3 months, allowing that to be spun as a green shoot by CNBC. Time will tell.

Developing story: this means that unemployment will either be allowed to reach its true, "unadjusted" levels in the low teens shortly, or will be kept artificially low for 2-3 months, allowing that to be spun as a green shoot by CNBC. Time will tell.

The state unemployment data from the BLS is likely significantly flawed but it makes sense to visualize it nonetheless. The chart below demonstrates both the monthly change in unemployment (April - May 2009) as well as the year-over-year increase in state unemployment (vs. May 2008). Notably, Michigan was in a world of pain even before the bankruprtcy of GM and Chrysler. The green shoot: seems cattle ranchers are in high demand in N/S Dakota and Wyoming.

The state unemployment data from the BLS is likely significantly flawed but it makes sense to visualize it nonetheless. The chart below demonstrates both the monthly change in unemployment (April - May 2009) as well as the year-over-year increase in state unemployment (vs. May 2008). Notably, Michigan was in a world of pain even before the bankruprtcy of GM and Chrysler. The green shoot: seems cattle ranchers are in high demand in N/S Dakota and Wyoming.

The state unemployment data from the BLS is likely significantly flawed but it makes sense to visualize it nonetheless. The chart below demonstrates both the monthly change in unemployment (April - May 2009) as well as the year-over-year increase in state unemployment (vs. May 2008). Notably, Michigan was in a world of pain even before the bankruprtcy of GM and Chrysler. The green shoot: seems cattle ranchers are in high demand in N/S Dakota and Wyoming.

The state unemployment data from the BLS is likely significantly flawed but it makes sense to visualize it nonetheless.

As program trading computers pretend to care about such fundamental things as continuing jobless claims, a peculiar trend emerges.

As program trading computers pretend to care about such fundamental things as continuing jobless claims, a peculiar trend emerges.

As program trading computers pretend to care about such fundamental things as continuing jobless claims, a peculiar trend emerges.

As program trading computers pretend to care about such fundamental things as continuing jobless claims, a peculiar trend emerges.

Another refreshingly objective piece from the San Fran Fed, this time dealing with the question of whether to expect a recovery in employment; the Fed comes out with what sounds like a resounding no.

Another refreshingly objective piece from the San Fran Fed, this time dealing with the question of whether to expect a recovery in employment; the Fed comes out with what sounds like a resounding no.

Another refreshingly objective piece from the San Fran Fed, this time dealing with the question of whether to expect a recovery in employment; the Fed comes out with what sounds like a resounding no.