Network News

X My Profile
View More Activity





Unemployment rate falls across 39 states, but it's not good news

By V. Dion Haynes and Ariana Eunjung Cha

The unemployment rate across 39 states and the District fell in June, but this is far from good news. Instead, it reflects renewed pessimism about the economy as employers put the brakes on hiring and people stopped looking for work.

While 41 states saw net job gains in May, only 21 saw an increase in June, the Labor Department said Tuesday. Businesses are holding off on hiring new workers, with private employers adding a mere 83,000 jobs last month.

The numbers reflected a temporary phenomenon: the layoff of thousands of temporary workers for the U.S. Census Bureau. But in a month when home construction and retail sales numbers missed expectations and corporate earnings reports were lackluster, they sent stocks tumbling early Tuesday before they erased most of their losses in the afternoon.

Nationally, the unemployment rate fell to 9.5 percent in June from 9.7 percent in May.

Nevada's unemployment rate of 14.2 percent was the highest in the nation as the state continued to struggle with a housing slump. Michigan's rate was the second highest at 13.2 percent.

The Dakotas had the lowest unemployment rates, with North Dakota boasting 3.6 percent unemployment followed by South Dakota at 4.5 percent.

Some states saw modest gains in jobs last month. Texas logged 14,000 new jobs and Kentucky gained 6,200 jobs.

The District, Maryland and Virginia fell for the third consecutive month in June, according to government data released Tuesday.

The District's unemployment rate fell to 10 percent in June, down from 10.4 percent, according to the U.S. Bureau of Labor Statistics. Maryland's unemployment level decreased to 7.1 percent from 7.3 percent, and Virginia's rate dropped to 7.0 percent from 7.1 percent. In comparison, the U.S. unemployment rate in June fell 0.2 percent to 9.5 percent.

The rates for all three jurisdictions are the lowest they've been in about a year.

Job growth was much slower in June, said Anirban Basu, chairman and chief executive of Sage Policy Group, a Baltimore economic and policy consulting firm. Moreover, he said, the labor force decreased by 9,500 in Maryland, 8,400 in Virginia and 1,000 in the District, suggesting that many unemployed people became discouraged with the job market and halted their search for work.

"What has taken place since late April has been a reversal of the optimism that had been emerging earlier in the year," Basu said, adding that employers are reacting to the sharp drops in the stock market, the debt crisis in Europe, the oil spill in the Gulf of Mexico and decreases in consumer spending.

By Ariana Eunjung Cha  |  July 20, 2010; 2:00 PM ET
 
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz   Previous: Question time for Mr. Bernanke
Next: What we're reading elsewhere: Keynes and the stimulus, registering Hamas with the BBB

Comments

When will the news media get it right. Just because the state says unemployment went down, doesn't mean it went down. It's because many of the people collecting unemployment insurance ran out. So they are no longer collecting. That doesn't mean they have jobs. I'll bet if they take all those people into account correctly, the true unemployment rate is double what they show!

Let start cracking down on companies like CHASE BANK which already shipped 50,000 jobs to Indian and is still doing so.

Posted by: RSeg1 | July 20, 2010 3:27 PM | Report abuse

Corporation could be hiring (in the United States) if they wanted to, but they won't as long as the Dems are in charge. They are merely trying to defeat Obama at the expense of the millions of workers that Bush managed to blissfully and unapologetically put out of work. As soon as they can drive down our wages to what people in China and India will work for and virtually eliminate any benefits, then you'll see them start hiring here again. And they have the gall to call themselves Americans?

Posted by: lddoyle2002 | July 20, 2010 3:42 PM | Report abuse

Preppers depression intends to shove the unsustainable Obama promise onto fast track.

Close and lock business doors and file unemployment until Congress repeals POTUS and ends their retirement plans and lifetime salary.

Posted by: Anonymous | July 20, 2010 3:57 PM | Report abuse

Preppers depression intends to shove the unsustainable Obama promise onto fast track.

Close and lock business doors and file unemployment until Congress repeals all salary back down to $800.00 per week for themselves and the POTUS, and ends their retirement plans and lifetime salary.

Vote for No Lawyers or incumbents, place only US military Veterans who ran sucessful business until the Worst Congress in US History was seated.

Posted by: Anonymous | July 20, 2010 4:00 PM | Report abuse

The current state of our Country is just a damn shame!

A pox on the politicians in the Obama Administration, and GOP who are playing the Citizens for fools, to enrich their own political and financial ambitions.

This must NEVER HAPPEN AGAIN!

Posted by: Anonymous | July 20, 2010 4:22 PM | Report abuse

Business owners are afraid to hire anyone because they are scared of the uncertain new taxes obama is going to impose on them. Entrepreneurs are not starting businesses or creating jobs until there is a more business friendly POTUS and Congress.

Until obama and the democrat congress are gone, there will be no improvement. If you want jobs in the future, vote out the democrats and vote in conservatives. Impeachment of obama would help. Repealing the anti-business laws the democrats and obama have imposed on the USA economy will be a start in the right direction but it looks like it will take some time to reverse all the harm obama and the democrats have done.

Remember to vote in November.

Posted by: COOLCHILLY | July 20, 2010 4:25 PM | Report abuse

My advice; elect NO INCUMBENTS -- force elected officials to work for minimum wage and the same health insurance that's provided by their state public insurance pool (paid out of their own pocket) and depend on their own savings and social security for retirement; plus if we limit the president to two terms, let's limit all elected officials to two terms.

Professional politicians are self-serving and not part of the problem; they are the ENTIRETY of the problem.

Posted by: Anonymous | July 20, 2010 4:57 PM | Report abuse

Iddoyle, You are correct.

Posted by: Anonymous | July 20, 2010 4:59 PM | Report abuse

the census is over, tally that up...
these numbers are lies...

Posted by: DwightCollins | July 20, 2010 5:04 PM | Report abuse

The unemployment rate is still high but it really close to where it should have been all along for the last 10 years. A lot of the jobs created during this period, were just smoke and mirrors, jobs not meant too last only to satisfy needs of the bubble or bubbles. The housing boom overbuilt houses and the supply exceed the real true demand in the boom towns like Las Vegas and Stockton, CA. Hundreds of thousands of construction jobs, realtors, mortage lenders and processors, etc. were created like it would never end, well it finally did.

A lot of jobs have gone to China and India but chances are they would have been lost anyway if Capitalists decided to invest in capital over labor in the US. Automation, newer machinery, computers and robots, have replaced manufacturing jobs that don't require physical human interaction.

There is a show called "Hows it's Made" on TV and clearly shows processes from raw materials to the boxed final product controlled by a handful of 20-30 employees while similar process 30-40 years ago need hundreds or thousands to produce the same amount of production.

So a lot of unemployment is now structural and no President or Congress can change that, there has to be a change that has been happening over the last 20 years, that if you have a job at Ford, GM, IBM, or GE that they will take care of you with lifetime employment, health insurance and retirement benefits.

What the paradigm shift should be, to this new reality is, I do not know, more education is not rally the answer for a lot of dead end occupations. Maybe people should try to embrace that not every family needs or aspires to own a 3500 square foot house on 5 acres, 3 cars, a boat, 60 inch 3-D TV's, and motorcycles, etc. to live a satisfying life, no people don't need to live in a hovel but a lot of things are just over the top.

Posted by: Anonymous | July 20, 2010 5:11 PM | Report abuse

Florida's Rubio clearly said yesterday that NFIB and The Chamber of Commerce have both stated that investment capital is available but not being used by small(?) business to create jobs because of fear of rules.........not lack of capital - there is plenty of investment money, but it sits on the sidelines.......by choice.


sounds like blackmail.


Rubio also claimed that tax cuts to millionaires don't contribute to deficits, rather they grow revenues. EVERY member of bush's economic council disclaimed this assertion!! by the way, the bush tax cuts are still in effect - where's the claimed revenue growth? the economy shrunk in '08 by 6%!! revenues dropped by half a trillion a year!!


jobs will not be created by the spoiled, greedy, corporate creatures who have been lavished with tax cuts. they will invest in china and india.

the section 179 code changes (2009 stimuls) will help small business with an increase to $800,000 for initial year dedecution of equipment.......(that same stimulus has tax cuts for 95% of amnericans.)

support more stimulus for small business!!
100% equipment deduction!!
screw the mega-corporate thieves and start all over with competative industries and fair trade rules!!


Posted by: Anonymous | July 20, 2010 6:11 PM | Report abuse

If you ran a business but had a scared to death work force to exploit, would you A. Take as much for yourself as possible, or B. hire new people so your employees would have a reasonable workload. Business executives are slow to cut their bonuses, and quick to pocket the wealth other people generate. It is how they get rich and by tweaking the system how they stay rich. Why let poor Bob or Jane work a 40 hour week when they will work 70 for the same pay?

Posted by: John1263 | July 20, 2010 6:36 PM | Report abuse

Time to get into the marijuana business!

Posted by: Anonymous | July 20, 2010 7:16 PM | Report abuse

The Fair value for the Yuan is ¥4/$1 not ¥6.78/$1. ¥4/$1 makes USA made products more affordable for the Chinese and promotes America based Job growth.

Americans have Subsidized and Sacrificed enough Jobs to help China Job growth. Now it's time to encourage China to play fair and for the USA to Do more than just Talk about China's Currency Manipulation that is costing the USA millions of Jobs. Actions speak louder than words. China’s currency manipulation and other Policies Cheat the USA in several areas:

http://www.huffingtonpost.com/dave-johnson/chinese-currency-manipula_b_518951.html

1) Currency manipulation. China "pegs" its currency at a very low, or "weak" rate, so goods from China cost up to 40% less than they otherwise should.
2) Labor-rights suppression has lowered manufacturing wages of Chinese workers by 47% to 86%.
3) There is massive direct government subsidization of export production in many key industries.
4) China allows environmental degradation that ends up affecting all of us.
5) Intellectual property theft and piracy mean that American products that could be sold are stolen instead.
6) China has a number of policies that block U.S. firms from market access.

This costs USA Industry Millions of Jobs. Not the Walmart and dollar store product Jobs, but the big industrial multi-million dollar steel, carbon fiber and technology (Nuclear, Aviation, Transportation etc.,) products.

The USA must Immediately enact a gradual tariff on all goods imported from China up to 40% within 12 months in response to their currency manipulation that keeps the Yuan/Renminbi 40% below value. Ratify the free trade agreement with South Korea which will allow fairer trade than what we have with China.

S. 1254: Currency Exchange Rate Oversight Reform Act of 2009: A bill to identify foreign currency manipulation and apply tariffs to their imported good as is fair to the US consumer:

http://www.govtrack.us/congress/bill.xpd?bill=s111-1254

http://www.opencongress.org/bill/111-s1254/show

Posted by: Anonymous | July 20, 2010 7:31 PM | Report abuse

Take a pulse my friend. Job rate as a short stat IS NOTHING. Blind to see the neccesary social contract for the free market to be something benefiting to anough people. STUPID YOU ARE AND STUPID YOU WILL DYE.

Posted by: Vercinget333 | July 20, 2010 8:24 PM | Report abuse

Why chines has nopt not be strong enough to request enough recvenues to the USA? bYour debt is in their hands. And there is not any global regulator on soverign debt. You want cheap chinese labor. You wamt to pay them nothing. Now pushing for their salaries to rise. You are stupid.

Posted by: Vercinget333 | July 20, 2010 8:33 PM | Report abuse

To chinese people. I want to left clear that the american request is not more than a stupidity. Every one deserves an enough worthy salarie. No matter race, gender, religion or cast. Salaries make demand to grow in an consistent way. See us like the great money finder without the need to work. We ARE NOW THOSE LAZY RICHS.

Posted by: Vercinget333 | July 20, 2010 8:43 PM | Report abuse

Obama, his political hack groupies and his Mainstream Media accomplices have just about destroyed America.

Posted by: Anonymous | July 20, 2010 8:51 PM | Report abuse

Actually, there is good news, the good news is that the rapid loss of jobs the nation experienced at the end of the Bush-Cheney administration is over (America was losing 700,000 jobs per month in 2008).

The bad news is that the good news is not better. It does seem that employment's catastrophic nosedive is over...for now.

If we don't put today's economic news in perspective, we risk making uninformed or delusional financial decisions.

Posted by: Anonymous | July 20, 2010 8:54 PM | Report abuse

An age fighting lazy richs. Why? to be finally the lazy richs. No. It is not any surprise. This universe always went forward and backward in that way. People only thinking to be like any others were. Sad BUT REAL.

Posted by: Vercinget333 | July 20, 2010 8:56 PM | Report abuse

"Fear. What about my money? Well. It is clear. Sooner or later any government will have to hold their country growing enough to avoid political pressure. Debt? He, he, he. Those stupids trying to fight the debt. We are tyhe debt. We want the debt. We know they wanted the debt to disappear. Dreamers they are. If intyerest rate is near zero we will look for debt pressure. We never lose. We never did lose until some governors cut our heads. Time ago. Long time ago. We know are the power. The USA our best place to grow. Poor dreamers they are."

Posted by: Vercinget333 | July 20, 2010 9:10 PM | Report abuse

welcome to ::[ http://www.smalltrade.net ]

(b..r..a..n..d.)s.h.o.e.s.(34u.s.d),,

==J. a .m .e )) shoes

(1-24) shoes

2010 shoes

c.l.o.t.h.i.n.g,,j.e.a.n,,h.a.n.d.b.a.g(35u.s.d),,

==c .o. a .c .h )) handbag

(f.r.e.e)s.h.i.p.p.i.n.g

[ http://www.smalltrade.net ]

Posted by: Anonymous | July 20, 2010 10:18 PM | Report abuse

And, that’s if you believe their fake numbers. I’ don’t! Real Jobs, Fake Jobs In many ways, the unemployment numbers are much worse than they appear. One factor has been the timing of the US census. ‘This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s***) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.’

‘YAHOO [BRIEFING.COM]: The stock market turned a 1% loss into a 1% gain Tuesday. The swing wasn't inspired by any particular piece of news, but came gradually as sellers slowed their efforts in the face of technical support, which eventually gave way to short covering …’
1929 Peak Versus 2000 Peak? ‘In a post yesterday, we questioned whether the Dow was really in the midst of repeating a pattern it went through in the early part of the Great Depression. The post got a few comments suggesting that we make a different comparison:
· You should really plot what Louise Yamada has been saying for a long long time. She says that the entire market episode from 1928 to 1945 is being repeated all over again if you start your clock in 1999. By that count, the current year corresponds to 1939. It will be great if you could plot these charts. If Louise is right, and past is the prelude, then we are in for choppy market action for another five or six years.
· I agree with the comment about Louise's assessment, especially if you use the Nasdaq composite from 1999 vs the Dow from 1929. I believe it's a fairer comparison as our economy today is more technology based, whereas it was industrial based in the 30's.
· You're comparing the wrong time frames. Compare starting at DOW at 1929 and DOW at 2000, then look at the chart…’
Go to following pages for above links:
http://www.albertpeia.com/currentopics2ndqtr10108.htm
http://www.albertpeia.com
http://www.albertpeia.com/alresume.htm

http://www.albertpeia.com/wallstreetlunacy2ndqtr10108.htm

You may post a comment on my blog on any topic: http://alpeiablog.blogspot.com

Posted by: alpeia | July 21, 2010 4:33 AM | Report abuse

The comments to this entry are closed.

 
 
RSS Feed
Subscribe to The Post

© 2010 The Washington Post Company