A lot of people lost their jobs during the worst parts of the recession. Government stimulus programs were supposed to help mend this situation. Huge cash advances were doled out in hopes it would work. It didn’t work. Unemployment has actually gotten worse overall. In the month of August, there were 27 states that recorded an increase in unemployment. There were 10 states with no change and 13 states with a decrease. Still, we are assured that the recession is over. There doesn’t seem to be much reassuring of that proclamation.
Unemployment surges in August
The unemployment rate has shot through the roof over the last month. Over half of the United States recorded an increase in unemployment, according to CNN. In all 27 states have higher unemployment rates. Nevada still has the highest unemployment rate in the nation at 14.4 percent. The next worse off states are Michigan and California, with unemployment rates of 13.1 and 12.4 percent unemployment. The recession hit those states the hardest in a lot of ways, so it isn’t the biggest surprise. It appears emergency loans that went to these states to stimulate job growth, such as the auto bailout for Detroit, have not helped as much as was hoped.
Consensus on the Census
The end of the 2010 Census had a heavy hand in the increase in unemployment, according to USA Today. The Census employed 114,000 people on a temporary basis. That said, private employers are slowly starting to add jobs. About 67,000 private sector jobs were added, which has to be a relief for people looking for a pay day again. This was not unforeseen. It was anticipated that the Census concluding would add to unemployment, as there isn’t enough instant cash to hire all the workers that were laid off back to the payrolls.
Rebound isn’t quick enough for many
Recently released data that claims the recession is technically over, but there aren’t many noticeable changes now that the economy has stopped contracting. It doesn’t seem over. Unemployment is still high, and lending isn’t happening as much as it should be. It is difficult to reconcile that with the idea that the recession is over.
USA Today: http://www.usatoday.com/money/economy/2010-09-21-unemployment-rate-state_N.htm
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