Tuesday, December 30, 2008

It could be worse....

Of course, everyone in America is concerned with the economy, and the Lehigh Valley is no exception. As a recent Morning Call article pointed out, the Valley has suffered, with lay-offs and shut-downs hitting local business staples like Mack, the Bethlehem Sands and Rodale.

That being said, things genuinely could be worse. The Lehigh Valley's unemployment rate is 6%, the highest since 1993. However, statistics from the Department of Labor show that things could much much, much worse. Pennsylvania's unemployment rate is 6.1%, and the U.S. unemployment rate is 6.7%, obviously putting the Valley in better shape than Pennsylvania and the U.S. as a whole.

Pennsylvania's unemployment rate has increased .3% in a month (26,000 jobs) and 1.7% in a year. Still, we could be in far worse shape - compared to other rust belt states like Michigan (9.6%), Ohio (7.3%) or Indiana (7.1%), we are really not doing all that bad.

No comments: