Recession Over: 42 States Lose Jobs

It’s not hard to understand why this news is coming out late afternoon on a Friday. Unemployment 10 percent or above in 14 states and DC. Twenty-seven states see unemployment rise. I’m sure glad the recession is over and the stimulus is working great just as Obama has said.

WASHINGTON (AP) – Forty-two states lost jobs last month, up from 29 in July, with the biggest net payroll cuts coming in Texas, Michigan, Georgia and Ohio.
The Labor Department also reported Friday that 27 states saw their unemployment rates increase in August, and 14 states and Washington D.C., reported unemployment rates of 10 percent or above.

The report shows jobs remain scarce even as most analysts believe the economy is pulling out of the worst recession since the 1930s. Federal Reserve Chairman Ben Bernanke said earlier this week that the recovery isn’t likely to be rapid enough to reduce unemployment for some time.

Cross-posted at Riehl World View.

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