Unemployment On The Rise In U.S. And Europe

Americans are most concerned about unemployment, with the increasing cost of healthcare coming in second. A recent Gallup Poll suggested that 87% of people were very concerned about unemployment.

A growing number of Americans are also concerned about the federal deficit. The stimulus package doesn’t seem to be helping the economic scenario.

Highest Since 1983 And Still Counting
Regional and state unemployment rates were nearly all higher in
May, 2009. The national unemployment rate rose from 8.9 % in April to 9.4 % in May, which was 3.9 percentage points higher than a year earlier.

The Western region was highest with 10.1%, followed by the Midwest with 9.8%. The last time any region had a rate of at least 10.0 percent was September 1983.

Highest unemployment rates: Michigan (14.1%), Oregon (12.4%), Rhode Island (12.1%), South Carolina (12.1%), California (11.5%), Nevada (11.3%), and North Carolina (11.1%).

Most significant losses: California (-744,000), Florida (-417,500),
Michigan (-302,800), Illinois (-273,500), and Ohio (-262,100).

Unemployment April 2009 In Europe
Unemployment increased  to 9.2% in the 16 state Eurozone. Approximately 14 million are unemployed. This is expected to get worse, and cause social unrest.

Nations hit really hard: Spain (18.1%), Latvia (17.4%), Lithuania (16.8%).

Economists in Europe expect the rate to jump to 12% in 2011. The downward spiral is expected to continue.