http://www.presstv.ir/detail.aspx?id=95685§ionid=3510213
US unemployment rate overtakes EU's
Concern over job losses in the US mounts as latest figures project a sharper rise in America's unemployment rate than that of Europe.
The latest US unemployment figures for April indicate that 44 states out of the 50 recorded massive layoffs as the US economic decline pushes the numbers into double-digits.
California ranked first last month in terms of loosing over 63,700 jobs, carrying the job loss figure above eleven percent.
Texas placed second with 39,500 jobs slashed while Michigan's 38,400 and Ohio's 25,200 bought the states to the third and fourth positions.
The economic downturn has raised fears of states' bankruptcies, with some, including California, already contemplating federal funds to pay for their daily operations.
Treasury Secretary Timothy Geithner declared this week he would need congressional authorization to use the federal bailout fund to help state and local governments.
A record 5.7 million US citizens have lost their jobs in the wake of the 2008 financial downturn, forcing around 6.7 million Americans to seek unemployment befits.
The number of the unemployed, feared to rise in the course of the next two years according to Federal Reserves' recent projections, has already drained unemployment finances in California, New York and other states.
The median 8.9 percent jobless figure in the US has, for the first time since the conglomeration of European nations into a single bloc in the early 1990s, overtaken the transatlantic bloc's unemployment rate, which now stands at 8.5%.
ARQN/JG
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I am old Christiankiller
Sorry for offensive to our good religion christian brothers
I am not hating christians
