We’re still crawling out of the deep crater we fell into in 2008 and 2009. The percent of the working-age population now working or actively looking for work is higher than it was, but still near a 30-year low. But at least we’re crawling out.
As the national unemployment rate in May rose to 9.4 percent, jobless rates jumped in 48 states and hit record highs for some, reaching double digits in many cases. The winners in this depressing race are Michigan (think GM and Chrsyler), Oregon and California, which is registering its highest unemployment rate to date, 11.5 percent.