New York Wall Street: Unemployment is over 10% and rising

A crowd appears outside Federal Hall on Wall Street where President Obama was promoting regulatory reform.

The growing unemployment rates in New York is reaching record proportions and empty rhetoric is not solving the problem.

Are the New Yorkers waking up and becoming restless over the growing reality? How long will they wait patiently for definitive action?

The American people have high expectations that President Obama is their saviour and that he alone can lead them out of this wilderness but there are signs that the honeymoon is almost over and they want to see some real progress, now.

California's Unemployment Rate Reaches Highest Point Since 1940 - NYTimes.com

California's Unemployment Rate Reaches Highest Point Since 1940 - NYTimes.com

California’s unemployment rate in August hit its highest point in nearly 70 years, starkly underscoring how the nation’s incipient economic recovery continues to elude millions of Americans looking for work.

While job losses continue to fall, the state's new unemployment rate — 12.2 percent, according to the Bureau of Labor Statistics - is far above the national average of 9.7 percent and places California, the nation's most-populous state, fourth behind Michigan, Nevada and Rhode Island.

Statistics kept by the state show California's unemployment rate was 14.7 percent in 1940, said Kevin Callori, a spokesman for the California Employment Development Department.While California has convulsed under the same blows as the rest of the country over the last two years, its exposure to both the foreclosure crisis and the slowdown in construction - an industry that has fueled growth in much of the state over the last decade - has been outsized.

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