The reality of unemployment is getting uglier across the country, according to
new stats from the Labor Department.
Michigan has it the worst. There's practically nobody left in the state and of those left, 1 in 7 are unemployed! That's a 14.1% unemployment rate.
Oregon (12.4%) is second worst, while the No. 3 slot goes to Rhode Island and South Carolina. Beyond that, Nevada, California, Illinois, Indiana, Ohio, Kentucky and almost the entire Southeast are all ailing on the job front.
So where are things going well? Other than in New Hampshire, it's mostly the heartland and all its contiguous states. North Dakota is king, as is South Dakota. Other heartland areas with low unemployment rates include Nebraska, Iowa, Kansas and Oklahoma -- what's commonly called flyover country.
This recession is interesting in that Americans are generally
not picking up and moving for opportunity. Why? Nobody can get out of their house with their shirt on.
Clark predicts our current national unemployment rate of 9.4% will rise to somewhere around 11%. Yet he also thinks we'll have an inkling of economic recovery after Labor Day. But jobs will be a lagging indicator of the recovery,
for reasons that he previously explained.