Michigan has had the most unemployed people for the last 4 years. However now there is a new â€śtop-dog.â€ť Nevada, the nationâ€™s highest jobless rate winner is now at about 14% and researchers are trying to figure whatâ€™s going on. Continue reading for the details from the nationwide study, including a great video.
On a good note, on average Americaâ€™s unemployment has gone down, with 37 states & D.C. having lower percentages from last month. We are not in the clear yet, and economists say we have quite a ways to go to get back to the way things were before the recession. And though the Silver Stateâ€™s numbers are up, overall the latest research bares good news.
With Michigan finally falling a little since last month and a raise in Nevada, nationsâ€™s highest jobless rate numbers are somewhat big news! There is a technical explanation as to why, but it boils down to the fact that people arenâ€™t blowing their money at casinoâ€™s at the same rate and donâ€™t see the desire to move there, and that affects a lot of the stateâ€™s financial system.
“So much of Nevada’s economy is tied to the gaming industry and housing sector, which continue to weigh on Nevada’s labor market across the board,” said Mark Vitner, senior economist at Wells Fargo. “Consumer spending on travel and leisure is still in a pullback, and while the housing market is no longer in a free fall, there are still a lot of vacant homes in Nevada.”
So now that we know the status of job market across the country, what do we do about it? Up for a rough re-election, Senate Majority Leader Harry Reid states that even though there is a lot of hype about the gambling stateâ€™s status, he takes it as good challenge.
“This increase in our unemployment rate only emphasizes the need to diversify our state’s economy and create jobs.”
Way to take lemons and make them into lemonade! What do you think about Nevada, the nationâ€™s highest jobless rate state? Be sure to tell me you thoughts on the findings after you check out this video of some reactions to the rates a few months ago.