CHESSNOID

These are the worst unemployment rates in 70 years and they don’t even take into account the true numbers of the unemployed.  The numbers are actually higher than what is reported.

NEW YORK (CNNMoney.com) —

Five states posted jobless rates above 12% in August, according to federal data released Friday.

California, Nevada and Rhode Island each hit record-high rates, the Labor Department said.

Michigan led the nation in unemployment, with a rate of 15.2%, while Nevada was next at 13.2% and Rhode Island was third at 12.8%. California and Oregon were tied for the fourth spot, each with unemployment at 12.2%.

It’s hard to understand with conflicting reports if the economy is getting better now that the financial guru (stooge) Bernanke has officially announced the recession is over. The is the same Federal Reserve Chairman who was completely and utterly wrong about the recession 3 years ago and overnight claimed the financial apocalypse was upon us.

In another associated press report it states that 42 states lost more jobs in August, up from 29 in July. That seems weird since unemployment claims are going down, right?

AP News:

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.

The jobless rate nationwide is expected to peak above 10 percent next year, from its current 9.7 percent

The other reports say jobless claims fell. Record unemployment in double digits in the worse recession in 70 years and for some reason people are not filing unemployment claims.

WASHINGTON (Reuters) –

The number of U.S. workers filing new claims for jobless benefits fell last week to 550,000, according to a government report on Thursday that also showed the number of those collecting long-term aid tumbled.

Analysts polled by Reuters had expected initial claims to drop to 560,000, after reaching 576,000 the prior week, which had previously been reported as 570,000.

Continued claims fell to 6.088 million in the week ended August 29, the latest for which the data is available, from 6.247 million the prior week. That was the lowest level since the week ended April 4.