Unemployment continued to rise in August

Posted Sep 18th 2009 3:20PM by Michael Fowlkes
Filed under: Forecasts, Bad News, Employees, Recession, Financial Crisis

Recently we have been hearing more and more reports that the recession is nearing its end, but these news stories are going to do little to ease the minds of large numbers of people that have have lost, or are in fear of losing their jobs.

August was yet another tough month for jobs, as 42 states in the nation reported job losses during the month. That number is up from 29 states in July.

There is no doubt that jobs continue to remain scarce. We are currently looking at a national unemployment rate of 9.7 percent, and that is expected to rise through 10 percent sometime in early 2010.

So let's look at the actual numbers. During August there were a total of 216,000 jobs lost. The good news is that the total number of job losses was down from 276,000 losses the previous month. The bad news is that American employees have now slashed 6.9 million total jobs since the beginning of the recession in December 2007.

So while it is a bit encouraging that job losses are slowing, we should not be confused into thinking that the worst has passed. More job losses are on the horizon.

Michigan residents continue to bear the worst of the situation. During August Michigan lost another 42,900 jobs, and its unemployment rate is now sitting at a whopping 15.2%, the highest in the nation.

Tags: employment, jobs, Michigan, recession

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Reader Comments (Page 1 of 1)

9-28-2009 @ 4:24PM

JMA said...

Hey...What happened to the MILLIONS of jobs that the all-mighty Obama was going to "create"...and the millions more that he was going to "save"...?!?!?!...Not to mention all the other bull-krap promises he made to his delusional supporters...
Guess this is just more proof that Obama is a Jackass (that IS the symbol of the so-called Democratic party, isn't it?!?) and that he has no idea as to what he is doing...It is either THAT, that he is CLUELESS, or that he is deliberately and swiftly trying to push America into a state of Total Crisis so that he can push his and his cronies' Marxist Agenda and turn America into a totalitarian Socialist State...
The only things that are certain are that are that he and his corrupt administration are DESTROYING America and that he is an anti-American, pro-Muslim piece of lying Marxist garbage...And that "We, the People" need to get this Usurper false-president out of office as fast as possible and by whatever means necessary....