David Kirkpatrick

April 30, 2009

Unemployment news

Filed under: Business — Tags: , , , , — David Kirkpatrick @ 2:58 pm

Not so good.

From the link:

Unemployment rates rose in all of the nation’s largest metropolitan areas for the third straight month in March, with Indiana’s Elkhart-Goshen once again logging the biggest gain.

The Labor Department reported Wednesday all 372 metropolitan areas tracked saw jobless rates move higher last month from a year earlier. Elkhart-Goshen’s rate soared to 18.8 percent, a 13 percentage-point increase. That was the fourth-highest jobless rate in the country.

The Indiana region has been hammered by layoffs in the recreational vehicle industry. RV makers Monaco Coach Corp. Keystone RV Co. and Pilgrim International have sliced hundreds of jobs.

The jobless rate jumped to 17 percent in Bend, Ore., a 9.2 percentage-point rise and the second-biggest monthly gainer. Bend for years has been the center of the central Oregon real estate and construction boom, largely fueled by retirees from California. Many of them bought vacation or retirement homes in high-end rural developments called destination resorts, which the state began allowing in 1984 as an exception to land use laws that otherwise aim to preserve rural land from development.

And if you want more food for not so happy thoughts:

Unemployment rates in 109 metropolitan areas reached 10% or higher in March, almost eight times more than a year earlier, according to a government report released Wednesday.

Just 14 cities reported jobless rates of at least 10% last year, the Labor Department said.

The March 2009 report said unemployment rates in all of the nation’s 372 metropolitan areas rose in March compared with the same month in the prior year.

Jobless rates of at least 15% were reported in March in 18 areas, compared with only one – El Centro, Calif. – the previous year.

The number of metropolitan regions that had unemployment rates under 7% dropped significantly to 95 from 329 in March 2008.

A total of 33 metro areas registered unemployment rates that were at least 6 percentage points higher than a year ago, and another 42 areas’ increases were 5 to 5.9 percentage points.

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