403 Forbidden


nginx
403 Forbidden

403 Forbidden


nginx
Follow us:
403 Forbidden

403 Forbidden


nginx

Jon Talton

Analysis and commentary on economic news, trends and issues, with an emphasis on Seattle and the Northwest.

June 19, 2009 at 10:15 AM

Nearly every state saw unemployment worsen, but Oregon has special pain

Top of the News: The federal Bureau of Labor statistics gives us a clearer picture of May unemployment today. Forty-eight states registered job losses, one state remained the same and only one state (North Dakota) saw an improvement. Washington reported earlier this week, 9.4 percent unemployment, but a slowing in the number of jobs lost.

The biggest monthly loser: California, dropping 68,900 jobs — and 744,000 compared with a year earlier. The West saw the highest overall jobless rate, 10.1 percent — the Rust Belt Midwest was at 9.8 percent.

The Pacific region posted its highest jobless rate on record (Oregon posted a 6.7 percentage point increase year-over-year, largest in the nation; by comparison, Washington’s was 4.3 percentage points).

The Back Story: Continuing to dig through the details of the Obama/Geithner/Summers/(Rubin) regulatory reforms. The biggest problem so far is there’s no real oversight or transparency of the kind of derivatives that brought on the great recession.

These are the so-called bespoke derivatives, the “creative” swindles, er, I mean investment vehicles, that were crafted and sold as highly specialized, one-of-a-kind deals. So is the fix in?

Today’s Econ Haiku:

North Carolina

Eyes a tax for online sales

Amazon threats flow

Check in at noon for the weekly vote. Pick your favorite haiku from the week — or write your own.

Comments | More in Amazon.com, Bailout, Jobs/Unemployment

COMMENTS

No personal attacks or insults, no hate speech, no profanity. Please keep the conversation civil and help us moderate this thread by reporting any abuse. See our Commenting FAQ.



The opinions expressed in reader comments are those of the author only, and do not reflect the opinions of The Seattle Times.


403 Forbidden

403 Forbidden


nginx
403 Forbidden

403 Forbidden


nginx