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Saturday, October 17, 2009

Florida Unemployment Rate Hits Series High 11%

by Calculated Risk on 10/17/2009 01:17:00 PM

From the Miami Herald: Florida's jobless rate hits 11 percent as public toll worsens

Florida's overall jobless rate hit 11 percent in September, up two-tenths of a percentage point from the previous month, according to figures released by the state labor department on Friday. That's the highest since 1975, and represents more than a million Floridians out of work.
emphasis added
The BLS will report all the state data this week, and just like in California and Nevada, unemployment in Florida is at an all time high for the state series (started in 1975).

A couple other high unemployment states ...

In Illinois, from the Chicago Tribune: Ill. jobless rate hits 10.5 percent in September
The jobless rate in Illinois increased to 10.5 percent in September after falling to 10 percent in August.
That is almost 700 thousand people unemployed in Illinois.

And the "good news" from the Detroit Free Press: State's jobless rate is showing stability
Michigan's unemployment rate inched slightly higher during September, rising one-tenth of a percentage point to 15.3%.
"Michigan's unemployment rate was largely unchanged in September, as a modest recall of auto workers from temporary layoff was countered by job losses in the service sector," said Rick Waclawek, director of [Michigan Department of Energy, Labor & Economic Growth]'s Bureau of Labor Market Information and Strategic Initiatives. "The state jobless rate, which rose sharply by five percentage points from December 2008 to June 2009, has stabilized somewhat since June."
That is the good news. The recall of some auto workers kept the unemployment rate "largely unchanged".

My guess is the overall unemployment rate will hit 10% this month or in November.