More Screw Jobs

The monthly state unemployment numbers are out for March, and they paint a particularly dismal picture in states like Oregon and Michigan.

In March, Michigan again reported the highest jobless rate, 12.6 percent. The states with the next highest rates were Oregon, 12.1 percent; South Carolina, 11.4 percent; California, 11.2 percent; North Carolina, 10.8 percent; Rhode Island, 10.5 percent; Nevada, 10.4 percent; and Indiana, 10.0 percent. Nine additional states and the District of Columbia recorded unemployment rates of at least 9.0 percent. The California and North Carolina rates were the highest on record for those states. (All state series begin in 1976.)

That's 17 states above 9.0% unemployment plus DC, up from 14 last month. That leaves U-6 estimates for the now 8 states in double digit unemployment ranging from about 17.8% for Indiana to close to 22.0% for Michigan at this point.

Look for DC, Florida, Kentucky, Tennessee, and Ohio to join the double digit club next month. As I live in the Cincy area, the tri-state border of Indiana, Ohio, and Kentucky (states all at or close to double digit unemployment now) I can tell you that the job picture here is still moderately okay. So far a lot of the really bad numbers from these states are coming from places that locally have 15% unemployment or worse like Elkhart, Indiana, Youngstown, Ohio, and Jackson County, Kentucky.

Still, it's going to continue to get worse. Expect to see a number of states, possibly as many as 20, in double digit unemployment by mid-July.