Unemployment hammers all states

Unemployment has spared no state in the United States. All 50 states and the District of Columbia recorded unemployment increase. 

Unemployment rates increased two fold in Michigan and Rhode Island whereas South Carolina and Indiana showed an increase of 1.1% in the unemployment rates in December.

The condition has further worsened by the layoffs announced by Pfizer Inc., Caterpillar Inc. and Home Depot Inc. Nearly all the sectors including manufacturing, construction, financial services and retail are hit by the recession. The economists fear a worse picture in the coming months. 

"We won't see a light at the end of the tunnel until 2010," said Anthony Sabino, a professor of law and business at St. John's University. About 2.6 million were rendered jobless in the year 2008. It is feared that 2 million more would be out of their jobs in 2009. 

The new government is making efforts to boost economy and job growth. President Barack Obama has announced a $825 billion package of tax cuts and increased federal spending, including money for big public works projects.

Efforts are on but what would be the success rate, the question still seems unanswered. How long will it take for the jobless to get an appropriate job is yet another elusive factor. 

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