Government money advances seem to have not helped unemployment levels

The recession, which is supposedly over, took a toll on many sectors of the economy. Lots of individuals, as a result, have lost their jobs because of it. Huge money advances were drawn for government stimulus programs, with the idea that jobs would be created and unemployment eased. Overall, it worked for a little while, but has only gotten worse in the meantime. There were27 states that had joblessness levels rise within the month of August. No change was recorded in 10 states, and 13 states had decreases. Granted, recessions technically end when contractions cease, however current conditions certainly make it seem as though it’s not over.

Summer spike in unemployment

The last month has not been good for the jobs situation. Joblessness increased over that time. According to CNN, there were 27 states that recorded a rise within the unemployment level. Nevada has been the hardest hit state in more than one category, as the state has an unemployment rate of 14.4 percent. Michigan is behind Nevada, with a joblessness rate of 13.1 percent. California may be the 3rd highest, with 12.4 percent joblessness. The recession hit those states the hardest in a lot of ways, so it isn’t the biggest surprise. There was even an auto bailout which saw billions in emergency loans go to Detroit.

Census was obviously a momentary prop

The proximate cause, according to USA Today, was the end of the 2010 Census. The Census employed 114,000 individuals on a momentary basis. However, signs of life did emerge. Private employers are starting to slowly add jobs again. About 67,000 private sector jobs were added, which has to be a relief for people looking for a pay day again. This was not a surprise, but there still isn’t enough instant cash for employers to hire everybody back.

Slow however steady wins the race

There is evidence the decline of economic activity has stopped, and thus the recession is technically over. It is difficult to think of the recession as over with unemployment high and a credit system that seems depressed.

Find more information on this subject

USA Today

usatoday.com/money/economy/2010-09-21-unemployment-rate-state_N.htm

CNN

money.cnn.com/2010/09/21/news/economy/state_unemployment/index.htm