The U.S. unemployment rate continues to climb and is still at the highest level in a quarter of a century and seems to keep rising.
According to the Oklahoma employment report for April, the unemployment rate rose to 6.2%. This represents an increase of 2.7 percent points compared to the rate for April 2008. The national unemployment rate reached 8.9 percent in April, an expansion of 0.4 points for the month.
A year ago, Oklahoma’s unemployment rate was 3.5 percent with U.S. at 5.2 percent.
Trade, Transportation, Utilities, Professional and Business Services reported the largest monthly losses in April with Construction, Educational and Health Services being reported to add jobs in April.
With the number of newly laid off workers requesting unemployment insurance every week, jobs are likely to remain scarce through next year.
Though the number of jobs in almost every major industry in the country is predicted to decline, forecasters said the losses would come at a slower rate next year.
Hard economic times will continue to force consumers to pull back their everyday spending in hopes that the economy will pick up.