This rate is a 22-year high! If you can recall, last month the unemployment rate was 5.7 percent...The national unemployment rate in June 2009 was 9.5 percent.
What do I think this means?
I wrote about this a couple of weeks ago, about the fact that the unemployment rate is really tough to calculate. I feel that we are always at a higher rate of unemployment than Iowa Workforce Development statistics indicate because their information is based on their assumption that those who are out of work file for unemployment insurance benefits. And this is simply not the case.
I feel that the increase from 5.7 to 6.2 percent is due to severance packages running out which now allows for the laid off workers to file for unemployment insurance benefits. They're now finally being recognized as unemployed even though they've been out of work for quite a few months. Will we ever really know what the real unemployment rate is?
If you think the job situation in Iowa is bad, check out other states in the nation. The central United States doesn't have it too bad...
Monday, July 20, 2009
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Suzanne this does not count another group who have exhausted their unemployment benefits (a group sadly much larger right now due to current economic conditions) or the folks known as underemployed.
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