Jobless Rates Jump in 26 States

Jobless rates climbed in 26 states last month, suggesting employment recovery will be slow and governors may face worsening budget woes, Bloomberg reports. Unemployment in California, Georgia, Rhode Island, and Nevada was at its highest since record-keeping started in 1976. While California’s rate rose from 11.6% to 11.9%, unemployment was 10% or higher in 16 states.

The statistics support predictions that national unemployment will hit 10% by early next year. “State revenues could fall short of expectations if consumer spending doesn’t pick up and if the labor market fails to improve,” says an analyst. “We’re going to see higher unemployment over the month ahead.”
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