The Employment Situation Summary released by the United States Department of Labor Bureau of Labor Statistics today shows that job growth has slowed considerably as the unemployment rate has risen by another percentage point bringing it to 9.1 percent unemployment.In May, the number of long-term unemployed (those jobless for 27 weeks and over) increased by 361,000 to 6.2 million; their share of unemployment increased to 45.1 percent. (See table A-12.)
As noted in the summary, the 9.1 rate does not include 2.2 million persons considered "marginally attached to the labor force" because while those people wanted and were available for work they had not searched for work for the four weeks preceding the survey.
Out of that 2.2 million, 822,000 are considered discouraged workers not looking for work because they believe no jobs are available.
Job growth was expected to reach 160,000 but came in, before adjustment, at 54,000.
Areas still at or above the official national average for unemployment are:
Alabama- 9.3%
Arizona- 9.3%
California- 11.9%
Colorado- 9.2%
Connecticut- 9.1%
Florida- 10.8%
Georgia- 9.9%
Idaho- 9.6%
Kentucky- 10.0%
Michigan- 10.2%
Mississippi- 10.4%
Nevada- 12.5%
New Jersey- 9.3%
North Carolina- 9.7%
Oregon- 9.6%
Rhode Island- 10.9%
South Carolina- 9.8%
Tennessee- 9.6%
Washington- 9.1%
Data obtained from Bureau of Labor Statistics on the Local Area Unemployment Statistics page. (Right side)
Recently we showed, in a two-part post which states showed private-sector job growth over the last decade and which states consistently showed private-sector job loss.
Red States Add More Jobs Than Blue States
Red States Add More Jobs Than Blue States- Part 2
When you have the 21 states and DC coming in at over 2 million private sector job loss over the last decade and 22 states considered red gaining jobs, it is logical to infer that certain policies work to create job growth and others do not work, the numbers do not lie. (Actual figures are in the Part 2 link above)
Other reports on unemployment numbers released today from CNBC, CNN, Wall Street Journal and The Politico.
Discussions surround those reports can be found at Memeorandum.
Yesterday we discussed the recently released Rasmussen Generic Presidential Ballot showing Barack Obama behind a generic Republican candidate by 2 percentage points and the bad economic news that has already hit the Obama administration, pointing out the ramifications of his failed economic policies heading into the 2012 presidential election year.
(Cartoon at the top by Eric Allie )
