Jobless Recover…

Jobless Recovery: 43 States Have Fewer Jobs Now Than They Did Before Recession

 
Three years since the recession ended, 43 states have yet to regain the jobs they lost in the downturn. The figure is a reminder of how weak the nation’s job market remains.
The states that are the furthest behind in job growth are those that were hit hardest by the housing bust: Arizona, Florida and Nevada.
Overall, the U.S. economy has 3.5 percent fewer jobs than it did before the Great Recession, which began in December 2007. The national unemployment rate has been stuck at 8.2 percent.
As slow as the recovery in jobs has been, a few states are doing quite well. Seven have more jobs now than before the recession. Some – North Dakota, Texas and Alaska – are benefiting from an oil boom.
But most states have lagged behind.
“Except for these energy-producing states, everywhere there’s still this caution in terms of hiring,” Steve Cochrane, a regional economist at Moody’s Analytics, said.
Last month, unemployment rates rose in 27 U.S. states, the most in almost a year.
Unemployment rates fell in 11 states – the fewest since August – and were unchanged in 12, the Labor Department said Friday.
Nevada had the nation’s highest unemployment rate in June at 11.6 percent. The state also had 12.4 percent fewer jobs than before the recession, the biggest percentage of jobs lost of any state.

Read more: http://www.huffingtonpost.com/2012/07/21/jobless-recovery-states-fewer-jobs-recession_n_1691691.html

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