Friday, November 6, 2009

Nat'l Unemployment At 10.2%, But Unemployment Benefits and Homebuyer Tax Cred Extended/Expanded and Fannie Mae Starts Deed For Lease Program

Big day in bailouts for the common man.

America is out of money.  It's time to fire Timothy Geithner.   Too bad all of the taxpayer funds that went to bailing out the Too Big To Fail banks and firms didn't go directly to the American people; would have made for a happier, if not better, nation.

The national rate of 10.2%, plus the "real" rate of 17.5% unemployment, highest ever, which includes those who have stopped looking or are underemployed in hours or salary, will continue to impact every state until it is resolved.

The Commonwealth is faring a little bit better than other states.

Our area has a 20-year high in unemployment: In the Charlottesville MSA (Metropolitan statistical Area, which includes the City plus Albemarle, Nelson, Greene, and Fluvanna) the most recent unemployment data shows 6.4% for the MSA, 7% for the City, and 5.3% for the County.  

A  commenter on this post sent the following links, showing that Va's unemployment scenario in the Southside has improved in the past six months: a smaller area of widespread 10-15% unemployment to widespread 8-10% & 6-8% unemployment. 

Related Reading:

DP on State Unemployment
BLS, Va Economy at a Glance
Current Unemployment in Cville Area
DP on Extending Tax Crud
Cville Move-Up Market and Tax Crud

Some pictorial representations of unemployment during this recession compared to others.  Click for larger image in new window.

From CalculatedRisk

From The Big Picture:

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