Friday, August 21, 2009

Unemployment: Vegas All-Time High 13.1%, California 11.9%, NYC 9.6%

The Las Vegas Review-Journal reports that "Nevada's unemployment rose to 12.5 percent in July, while joblessness in especially hard-hit Las Vegas surged to 13.1 percent. It’s the highest jobless rate both statewide and locally since the state Department of Employment, Training and Rehabilitation began tracking data in 1976." The Los Angeles Times reports that "California's unemployment rate took an unexpected leap in July, reaching a post-Word War II high of 11.9%. The increase contrasts with the national rate, which declined slightly over the same period, and reflects ongoing weakness in the state's battered construction and financial services industries.The state lost a net 35,800 jobs last month, more than any other state, the U.S. Labor Department said today. It has lost 760,200 jobs over the last year." The Daily News reports that "New York City's unemployment rate jumped to 9.6% in July, the highest in a dozen years. It's the first time the city's jobless rate is higher than the national level - now 9.4% - since November 2007, before the recession began, the state Labor Department reported Thursday." Hmm. So much for "stimulus."

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