Unemployment tops 10 percent in 15 states in June

[Tierra_y_Libertad]

Yup. Things sure are getting better.....for bankers.

http://news.yahoo.com/s/ap/20090717/ap_on_bi_go_ec_fi/us_state_unemployment_6

Unemployment topped 10 percent in 15 states and the District of Columbia last month, according to federal data released Friday. The rate in Michigan surpassed 15 percent, the first time any state hit that mark since 1984.

The Federal Reserve this week projected that the national unemployment rate, currently at a 26-year high of 9.5 percent, will pass 10 percent by the end of the year. Most Fed policymakers said it could take "five or six years" for the economy and the labor market to get back on a path of long-term health. To get there, consumers must return to a regular spending groove and housing prices need to start rising again.

Home to the nation's struggling auto makers, Michigan has been clobbered by lost factory jobs. Its jobless rate of 15.2 percent in June was the highest in the country.

The other 14 states where unemployment topped 10 percent last month were: Alabama, California, Florida, Georgia, Illinois, Indiana, Kentucky, Nevada, North Carolina, Ohio, Oregon, Rhode Island, South Carolina and Tennessee.

[Retrograde]

1. Is this why I'm seeing all those "Come spend your money in Michigan" ads?

Anything to get dollars into the state, I suppose.

[blue_onyx]

3. The "Pure Michigan" ads have been around for a few years

in some markets but MI started a national campaign earlier this year. According to Forbes, it was an effective campaign:

"The award-winning Pure Michigan tourism campaign has received another accolade, this one from Forbes, naming it among the 10 all-time best travel campaigns. On the heels of an incredibly successful national cable television campaign that launched March 30, this recognition is further proof Michigan is making its mark when it comes to travel and tourism.


Forbes ranked the Pure Michigan campaign sixth best, saying, "this campaign sells with its simple and universal message: that sometimes we all need to get away from life's stresses and relax a bit."

For each dollar Michigan spent on out-of-state advertising from 2004 through 2008, new visits to Michigan stimulated by that advertising created more than $40 of spending at Michigan businesses and generated $2.86 in new state tax collections.

http://www.michigan.gov/som/0,1607,7-192-31933-217547--,00.html

[Hannah Bell]

2. kr

[blue_onyx]

4. I wonder how long it will be before....

we start forming the "Over 20%" club.

[ananda]

5. Is there a concerted effort to destroy the big blue states?

nt

[Birthmark]

6. And that's just the unemployment they'll admit.

The real situation is much more grave.

I guess these unemployed people just aren't taking personal responsibility for their situation. :sarcasm:

[emilyg]

9. Those unemployed people just aren't spending enough.

:sarcasm:

[Birthmark]

10. The Greedy Poor.

Probably the next Republican/Democrat meme.

[CoffeeCat]

7. Yeah, we all just need to spend again. Meh.

If only Americans would dust off those credit cards, get out there and
buy crap that they don't need. If only.

I'm sick and tired of the economic recovery being put on the backs of
Americans. We'd damn well like to save some money, and possibly
retire someday--or set aside something for our children's future.

Why is recovery based on people being materialistic and irresponsible?

The corporations of this country don't pay people enough and those
corporations are dropping health-care benefits. But we're still
supposed to go out and spend, spend, spend--in order for the economy
to recover?

Why doesn't this country start providing good paying jobs, decent
health care and job security to people--and QUIT sending our jobs
overseas?

START with those things---instead of pushing me out the door to
buy a ginormous gas grill and a bunch of crap from Pier One!

[Wednesdays]

8. K&R

:kick: