In Four States Jobless Rate Above Ten Percent
The Associated Press reports that four states, California, Michigan, Rhode Island, and South Carolina reported jobless claims above 10 percent for this past January. Only Michigan reported a double-digit jobless rate just one month earlier. Over 5 million people are now taking advantage of unemployment insurance, emptying state budgets. Job losses are coming from all sectors of the economy – manufacturing, construction, banking, high tech, and service jobs are all being cut. Unfortunately, even the most optimistic projections expect the recession to last at least through 2009.
