5/01/2013

The Real Unemployment Rates by State, and they are very high


Click on the above figure to make the figure larger.  This figure relies on what is called the U6 measure of unemployment, the rate that is most similar to how unemployment is measured in Europe.  Traditionally the unemployment rate in the US only says someone is unemployed as long as they are actively looking for work, but most of the recent drop in the unemployment rate is due to people giving up looking for work.  The U6 measure tries to take the number of discouraged workers into account, but even this measure isn't perfect as if the unemployed person is discouraged for more than a year even the U6 measure drops that person from the count.  Fourteen states have a real unemployment rate that is above 15 percent.  The data is from the Bureau of Labor Statistics.

Note the states that are doing the best are doing well no thanks to the current government policy.  North Dakota and to a lesser extent South Dakota are benefiting from the oil boom.

The real unemployment rates in Los Angeles and New York City are over 20 and 15 percent each.

Labels: ,

0 Comments:

Post a Comment

Links to this post:

Create a Link

<< Home