Unemployment continues up: shockingly so in some Southern States
Submitted by bizgrrl on Sat, 08/16/2008 - 13:51.
Tennessee'sunemployement rate hit 6.9% in July, the highest it has been since May, 1987. The unemployment rate was 6.5% in the previous month. Georgia's unemployement rate is up to 6.2%, the highest since March, 1993. Florida's unemployment rate is 6.1%, the highest since 1995. Mississippi's unemployment rate is is up to a whopping 7.9%. Then there's South Carolina's unemployment rate of 7%, up from 6.1% in June. North Carolina's unemployement rate is 6.6%, up from 4.7% a year ago. Alabama's doing the best of these Southern States with an unemployment rate of 5.1%, up from 4.7% in June. The only one of these Southern states less than the national unemployment rate.
The nation's unemployment rate zoomed to a five-year high of 6.1 percent in August as employers slashed 84,000 jobs, dramatic proof of the mounting damage a deeply troubled economy is inflicting on workers and businesses alike.
How bad can it get in six months?
Don't ask.