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Unemployment rates rose in all the largest U.S. metropolitan areas for the fifth straight month in May.
The Labor Department says jobless rates in May rose from a year earlier in all 372 metropolitan area it tracks.
The unemployment rate in Kokomo, Ind., jumped to 18.8 percent, up 11.7 percentage points from a year ago, the largest increase of all metro areas. The second-highest jump occurred in Indiana's Elkhart-Goshen. Its rate jumped to 17.5 percent, up 11.4 percentage points from a year earlier. Both areas have been slammed by layoffs in transportation equipment manufacturing.
Originally posted by Amagnon
America doesn't have a valid manufacturing base anymore - what is going to drive a recovery, regardless of 'stimulus'?
While domestic spending is cut due to losses in equity, increased prices of commodities and imports - what is going to spark a job recovery?
Nothing and more nothing.