2 States Where Unemployment Is Growing and 1 With Plenty of Jobshttp://www.fool.com/investing/general/2013/04/22/2-states-where-unemployment-is-growing-and-1-with.aspx Adam Levine-Weinberg
April 22, 2013
Americans have witnessed firsthand the slow U.S. economic recovery over the past several years. Since peaking at 10% in late 2009, the unemployment rate has gradually fallen to 7.6% as of last month. While GDP growth has been uneven, the U.S. economy has been expanding since the third quarter of 2009 after sharply contracting in the previous year.
However, the economic recovery has not benefited all states equally. As of March, seven states still had unemployment rates of 9% to 10%: Nevada, Illinois, Mississippi, California, North Carolina, Rhode Island, and New Jersey. However, two stand out as being in particularly bad shape: Illinois and Mississippi, both of which saw unemployment grow year over year. By contrast, some states are already back to boom-time levels. Most notable among them is North Dakota, where unemployment is just 3.3%.
Many Illinois residents worry that the state is losing its competitiveness compared to neighbors like Indiana and Wisconsin because of higher taxes, a growing public-debt burden, and a severely underfunded pension fund. Caterpillar executives ha