Rising Unemployment Remains a Concern

Bloomberg News reports today that 26 states saw rising unemployment rates last month. In our state, the unemployment rate dipped slightly, from 9.2 percent to 9.1 percent. Bloomberg notes the ongoing worry:

The figures are a blow to states already hurt by declining receipts from income and sales taxes and underscore economists’ projections that the national unemployment rate will reach 10 percent by early 2010.

We're relatively better positioned here. Another month or two will tell whether July was a turning point or an anomaly.