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Thread: Unemployment Rate DROPS In 34 States And DC

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    Default Unemployment Rate DROPS In 34 States And DC


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    Default Re: Unemployment Rate DROPS In 34 States And DC

    well consider the following

    (snip)"This graph shows the high and low unemployment rates for each state (and D.C.) since 1976. The red bar is the current unemployment rate (sorted by the current unemployment rate).

    Sixteen states and D.C. now have double digit unemployment rates. New Jersey is close.

    Nevada set a new series high; California tied the previous record (since 1976)."(snip)




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    Or put bluntly, D.C.'s unemployment rate dropping to12% ... while a positive development ... is certainly nothing to brag about.

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    Default Re: Unemployment Rate DROPS In 34 States And DC

    then of course, some quarters do think that the types of jobs being lost or gained matters .... i.e. the permanent loss of manufacturing jobs is not equally offset by the gov'ts hiring of temporary US Census workers !

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    Default Re: Unemployment Rate DROPS In 34 States And DC

    also, some measure of the apparent improvement is the fact that the federal gov't is conducting a big time 'stealth bailout' of these states ... which in turn makes it possible for these states to continue avoiding the necessity of firing gov't employees by the hundreds of thousands !

    (snip)"Courtesy of Economic Policy Journal we now know that the majority of American states are currently insolvent, and that the US Treasury has been conducting a shadow bailout of at least 32 US states. Over 60% of Americans receiving state unemployment benefits are getting these directly from the US government, as 32 states have now borrowed $37.8 billion from Uncle Sam to fund unemployment insurance. The states in most dire condition, are, not unexpectedly, the unholy trifecta of California ($6.9 billion borrowed), Michigan ($3.9 billion), and New York ($3.2 billion). With this form of shadow bailout occurring, one can only wonder how many other shadow programs are currently in operation to fund states under the table with federal money. The full list of America's 32 insolvent states is below, sorted in order of bankruptedness.

    California $6.9 billion
    Michigan 3.9 billion
    New York 3.2 billion
    Penn. 3.0 billion
    Ohio 2.3 billion
    Illinois 2.2 billion
    N.C. 2.1 billion
    Indiana 1.7 billion
    New Jersey 1.7 billion
    Florida 1.6 billion

    [ stopped at 10 - sic ] (snip)

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