The US jobless figures are getting worse, which means the country is sinking deeper and deeper. According to the latest Department of Labor statistics , 626,000 Americans filed for jobless benefits last week and 4.8 million Americans were unemployed. A more detailed breakdown from the Bureau of Labor Statistics shows that it's fairly widespread across the country, with a few exceptions.
The plight of the US auto industry and US housing mess is highlighted in Michigan which has the highest unemployment rate of 10.6% (and up from 7.4% from a year ago), followed by Rhode Island (10%), South Carolina (9.5%) and California (9.3%).
As MarketWatch points out, The Optimists would say that job losses and jobless claims typically peak before a recovery. That's very true. Trouble is no-one yet knows whether whether things have hit rock bottom
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