Florida’s unemployment rate hit 11 percent in September, sending the number of jobless residents of the state to a staggering 1 million for the first time in the state’s history. The state’s unemployment figures marks a 0.2 percent increase from August and are 1.2 percent higher than the national average of 9.8 percent.
October 1975 was the last time that Florida’s jobless rate topped 11 percent. According to the Director of the Agency for Workforce Innovation, Cynthia Lorenzo, the economic recovery is coming slowly. Lorenzo also pointed to the fact that there have been less closings and large-scale layoffs as a …read more

When the Labor Department released the job data for the month of September, many experts were shocked at the unexpectedly poor numbers. As a result, the stock market took a hit on Friday.
Most experts believed that around 175,000 jobs were lost in September. However, the Labor Department said that job losses for September were actually more than 260,000. Compared to the 200,000 jobs lost in August, the unemployment probably appears to be getting worse instead of better.
Overall, the Labor Department says that the unemployment rate in the United States is 9.8%. That number was also higher than expected.
On the day, …read more

On Friday, the Labor Department will release its jobs report. While many economists view the possibility as unlikely, there’s a chance that the unemployment rate could top 10%.
Last month, the unemployment rate was 9.7%. Most experts believe that this month’s percentage will be about 9.8%. However, some experts believe this is the month that unemployment reaches double figures.
Even if this isn’t the month the jobless rate hits 10%, experts agree that it is only a matter of time. In fact, the peak of unemployment isn’t expected for another six months to a year.
While the recession has technically ended, the unemployed …read more

While the recession is technically coming to an end, unemployment continues to be a problem in the United States. According to the Labor Department, 27 states saw their unemployment rate rise in the month of August. Across the nation, 14 states now boast an unemployment rate at higher than 10%.
In August, 42 states lost jobs. Compared to July, there were 13 more states that reported job losses. The worst hit states were Texas, Georgia, Ohio and Michigan — in terms of the largest drop in net payroll.
Currently, the U.S. faces an unemployment rate of 9.7%. While that is a scary …read more

The latest report by the Labor Department indicates that the United States unemployment rate in August rose to 9.7%. That is the highest the unemployment rate has been since 1983 when it was higher than 10%. While the percentage increase appears negative on paper, there were some positive signs in the Labor Department report.
Experts estimated that 225,000 jobs would be lost in August. As it turns out, there were only 216,000 job losses. The slowing down of the job losses is a positive sign in terms of the economy stabilizing in the U.S. In fact, this quarter is expected to …read more

The United States isn’t alone when it comes to problems with unemployment. Currently, China has 24 million people looking for jobs. A top government official said that only about half of those people will be able to find work this year.
Compared to last year, China is having more problems finding work for its people.
“The shortfall between supply and demand (for work),” said Yin Weimin in the China Daily, “will become larger than last year due to the failure to create enough job opportunities.”
The poor global economy caused approximately 30 million factory workers in China to lose their jobs last year. …read more

On Friday, the stock market showed more signs of improvement. With the stock indexes all on the rise, it is apparent that investors are really starting to feel confident.
The Dow Jones industrial average was up to 9,370.1 — a jump of more than 1%. The Nasdaq index was up almost 1.5% to finish Friday over, 2,000. The Standard & Poor’s 500 was up 1.3% to finish the week at 1,010.5. The best news was seen on the Russell 2000, which rose to 572.4 — a jump of more than 2.5%.
The most common reason given for the improvement on the stock …read more

For the first time in nearly a year and a half, there is good news on the unemployment front. Although there was a lot of positive news, the best news may be that the U.S. unemployment rate improved from 9.5% to 9.4%. Most experts were expecting an increase, so the dip — even though it was slight — is a great sign for the nation’s economy.
In June, more than 440,000 jobs were lost. In July, that number dropped all the way to under 250,000. Experts had predicted significantly more job losses.
Other stats released by the Labor Department include a jump …read more

Not long ago, there were hopes that the unemployment rate in the United States would stay below 10%. Now it’s simply a matter of when rather than a question of if.
Fifteen out of the fifty states already have a 10% unemployment rate. Many other stats are right of the verge of hitting double figures.
Michigan has been the hardest hit, which isn’t surprising since the state has relied so much on the auto industry over the years. With GM and Chrysler both bankrupt, many Michigan workers lost their jobs. Currently, Michigan has an unemployment rate of over 15%.
Other states that have …read more

As expected, foreclosures in the United States are up so far in 2009. According to a report by RealtyTrac, the first half of 2009 saw a 15% rise of United States households that are on the brink of losing their house to foreclosure.
The jump in foreclosures and near-foreclosures is tied to the economy and the rising unemployment rate. The unemployment rate is especially damaging since it’s difficult to get another job in a timely manner due to companies cutting jobs across the board. As a result, many families have lost their homes prior to being able to find another job.
In …read more