Unemployment Rate Expected to Get Close 10%, Actually Exceeded

Marketwatch.com reported that the employment rate is expected to rise to 9.9% nationally which will set a twenty-six year record. But actually the rate is 10.2%. According to the report, there are some good signs:

Initial jobless claims have declined
Seasonally adjusted payroll losses are projected to decline

But we cannot ignore the bad signs:
It is the trend -- unemployment expected to rise above 10% --- yeah, it already reached as of 11/6/2009
Average work week declined to 33 hours, so less pay
Manufacturing payrolls have fallen for months, so building fewer things in America?

Considering another piece of news from Wall Street Journal talking about the productivity increase in America. This is both good news and bad news. It is good as people are producing more with the same amount of time. It is bad news as the businesses may not need to hire additional workers as they discover they can make their existing workers to realize more potential.

We cannot ignore California whenever we talk about unemployment rate even though Marketwatch.com has no interest in talking about California. California' unemployment rate stands at 12.2% (as of 10/21/2009 from U.S. Bureau of Labor Statistics. Without the recovery from California, the recovery of United States will be affected as California constitutes more than 10% of U.S.' economy and it has more than 10% of U.S.' population as well.

California's unemployment rate is not the worst in the country. The great-lakes-surrounded State of Michigan has an unemployment rate of 15.2%. Big Three has become Big One --- the one and only Ford Motor Company. Long Live Ford Motor Company!

Californians like to say: As California goes, so goes the nation! Let's wish it is not that the nation is following California to have higher unemployment, but the nation follows California in its recovery as California has the very best in this planet: The Silicon Valley and the people who work 24x7 over there! Long Live California!

Let's be optimistic, things will get better eventually as American people never give up. What we can do is to stay healthy and happy, when the economy is getting better and unemployment falls below 5% again, we can say that we are happy survivors!