Money Matters - Simplified

Unemployment Rates on a rise in the U.S

With over 20 states across the United States cutting jobs the unemployment rate has reached around 9% avg, throughout the nation. The Labor Department said Friday that 29 states added jobs in August. Unemployment rates rose in 18 states, fell in 17 and were unchanged in 15.

The picture is decidedly mixed,'' said Jim Diffley chief US regional economist at IHS Global Insight. ''We're still optimistic about the improvement (in hiring), but it's been slow.'' 

Ohio's unemployment rate has increased slightly, matching the national rate for last month.The Ohio Department of Job and Family Services says the seasonally adjusted jobless rate in August was 7.3 percent, up from 7.2 percent the previous month. Presently 419000 persons are unemployed in Ohio with a 3000 increase since the last month.

Whereas on the other side in Rhode Island's unemployment rate increased in August to 9.1 percent, according to numbers released Thursday by the state's Department of Labor and Training. The new unemployment rate is two-tenths of a percent higher than July's 8.9 percent figure. But still an improvement over the last year's unemployment rate i.e. 10.4%.

The gap in employment rates between America's highest- and lowest-income families has stretched to its widest levels since officials began tracking the data a decade ago, according to an analysis of government data conducted for The Associated Press. Rates of unemployment for the lowest-income families — those earning less than $20,000 — have topped 21 percent, nearly matching the rate for all workers during the 1930s Great Depression. The given statistics are very alarming.

Overall, the United States still has 1.9 million fewer jobs than before the recession. Hiring has averaged just 155,000 a month since April. That's down from an average of 205,000 in the first four months.