More on the Jobs Situation
by Tom on November 20, 2009
in Market Musings, house prices
CR reports more on the jobless situation. Until we can start turning the jobs situation around, we aren’t going to see a return to a decent housing market and we aren’t going to see a reduction in mortgage delinquencies and therefore any “relaxation” in mortgage underwriting guidelines for a while.
If anyone has the statistics, I’d like to see a state by state ranking in terms of joblessness and mortgage delinquencies. I’m venturing there would be a pretty strong link.
More as time allows,
Tom Vanderwell
Calculated Risk: Unemployment Rate Increases in 29 States in October
Twenty-nine states and the District of Columbia recorded over-the-month unemployment rate increases, 13 states registered rate decreases, and 8 states had no rate change, the U.S. Bureau of Labor Statistics reported today. Over the year, jobless rates increased in all 50 states and the District of Columbia.
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Michigan again recorded the highest unemployment rate among the states, 15.1 percent, in October. The states with the next highest rates were Nevada, 13.0 percent; Rhode Island, 12.9 percent; California, 12.5 percent; and South Carolina, 12.1 percent. The rate in California set a new series high, as did the rates in Delaware (8.7 percent) and Florida (11.2 percent). The District of Columbia also set a series high, 11.9 percent.
Technorati Tags: Jobs, Unemployment, Mortgages
