What does rising U.S. jobless rate mean for recovery?
Fri, 08 Jul 2011 15:41:25 GMT —
COLUMBIA (WACH) -- New national unemployment data was released Friday showing a slight increase in those without jobs.
The Bureau of Labor Statistics says the jobless rate in June was 9.2 percent. That's up by around 18,000 people searching for jobs since May's report.
The number of those who have been jobless for 27 weeks or longer accounted for over 44 percent of those without jobs.
Here in South Carolina, June's numbers are set to be released soon. In May, the SC Department of Employment and Workforce reported 10 percent unemployment rate. That increase from 9.8 percent over the previous month broke a four month downward trend.Related Stories... AP poll: Economic worries pose new snags for Obama SC unemployment increases for first time in 4 months Computer glitch means 1,500 SC jobless miss checks
Although there was a slight uptick in the unemployment rate, the number of people who found employment has increased steadily for eight of the last nine months, and since May 2010, the estimated percentage of unemployed persons has declined by approximately 10.4 percent, said SC Department of Employment and Workforce Executive Director John Finan after May's report. South Carolina continues to maintain the status of having one of the fastest declining percentages in the Southeast.
Officials also said the increase was typical for the time of year.
What do you think about climbing unemployment rate in the nation and the state? Is it a sign of what's to come, or is it just a minor fluctuation in an improving economy? Vote in our poll below and leave a comment.