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ECONOMY: States with worst jobless rates share root causes

Discussion in 'Economics and Financials' started by Fin Fan In Cali, Jan 10, 2009.

  1. Fin Fan In Cali

    Fin Fan In Cali Dolphin fan since 1970 Luxury Box

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    http://www.nctimes.com/articles/2009/01/10/business/zc38051af6b05f68b882575390075cea0.txt

    Unlike the last recession, today's unemployment hot spots are all over the map.

    The five states with the highest unemployment rates ---- Michigan, Rhode Island, South Carolina, California and Oregon ---- all have something in common, though: a heightened exposure to the root causes of this downward spiral.

    The collapse of housing. The implosion of the auto industry. The meltdown of financial services. The exodus of manufacturing.

    All states are feeling the pain, but the worst are getting hammered on multiple fronts:

    -- The rotten housing market has punished California lenders and builders, taken an ax to Oregon's timber industry and soured the prospects for construction workers in Rhode Island, where buyers from neighboring states helped drive up home prices.
     
  2. FinSane

    FinSane Cynical Dolphins Fan

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    were hurting in florida too, where the housing crisis is second to california is serious condition
     
  3. Fin Fan In Cali

    Fin Fan In Cali Dolphin fan since 1970 Luxury Box

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    I hear you bro. The market out here has lost it's bottom for sure.
     
  4. DonShula84

    DonShula84 Moderator Luxury Box

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    :pity:

    Seeing my state on the list is a bit deflating lol.
     
  5. Fin Fan In Cali

    Fin Fan In Cali Dolphin fan since 1970 Luxury Box

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    Brother I have never seen Cali in the state it is today. :sad:
     

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