Thursday, July 29, 2010

20 Year High as Charlottesville Goes to 8%, While Albemarle Is at 5.8%: Unemployment Rises Month-Over-Month and Year-Over-Year

What recovery?  The previous post reported that area home sales have slowed to a crawl.  Unemployment has leapt in the past 2 years: the Charlottesville Metro area was at 3% in 2008.

 And did you know: local private sector job growth has ended, and those with 4 yr degrees and PhDs have the highest rate of un/underemployment.  Home sales are impacted by unemployment, obviously, but prices in the area also remain detached from reality wage-earners' incomes.

 The current unemployment figures are nsa for June, 2010.  Compared with June 2009, Albemarle had the same rate of 5.8% but Charlottesville was lower, at 7.4%.  See the and Va Employment Commission and The DP for all numbers.

 Sure, Virginia's doing better than some other states.  But we don't live in those other states; we live in an area that has rising unemployment.

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