New York State Unemployment: Above Averages, but Google's Not Concerned
Of course, New York state unemployment could be much worse. After all, some states such as Michigan have double-digit unemployment numbers. Should we be worried about the New York state unemployment?
Google doesn't think so.
The Everything PR blog has a wonderful depiction of the Google graphs and trends as they relate to New York state unemployment.
The first graph shows the trend for New York state unemployment. The second graph then adds a line to show California's unemployment rate. New York state unemployment and California's unemployment follow the same trend, although California's rate is over 12% as of August 2009.
The third graph adds Michigan, Colorado, Florida, and Georgia. New York state unemployment follows the same trends as all the other states.
The only state that had an unemployment rate less than that of New York is Colorado - but not by much.
Michigan's unemployment was the highest - approximately 15%!
So why has the New York state unemployment increased? In simple terms, it's the economy. You have to remember that New York state is home to New York City. New York City is then home to many banks, investment firms, and other financial institutions hard-hit by the collapse of the banking industry.
Will New York state unemployment ever turn around? I think so. It might take a few years but things are bound to get better sooner or later.
New York City will always be the headquarters for our nation's financial activities, and that means that there should always be jobs there.
Michigan, on the other hand is a different story in its entirety. Unless another industry comes in to that once great state, what are all the former auto worker's going to do?
New York State unemployment is high, but it's no cause for alarm. The graphs depict that the New York state unemployment is just following the same trend it always has.
While that may not make the unemployed in New York feel better, at least the New York State unemployment isn't an anomaly.
Sources:
Everything PR Blog
Published by Meg G.
Meg G. is a financial professional. During her previous life, she ran a contracting business with her husband. Now, she likes to share late breaking news, financial advice, and do-it-yourself tips with her d... View profile
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2 Comments
Post a CommentNew York Unemployment Trend Heat Maps:
A map of New York Unemployment in August 2009 (BLS data)
http://www.localetrends.com/st/ny_new_york_unemployment.php?MAP_TYPE=curr_ue
versus New York Unemployment Levels 1 year ago
http://www.localetrends.com/st/ny_new_york_unemployment.php?MAP_TYPE=m12_ue
Interesting, thanks for sharing.