US savings account holders face continued high unemployment
International savings account holders in the US will have seen little change in unemployment in February as the official rate remained stable.
The US Bureau of Labor Statistics (BLS) said that the rate was "essentially unchanged" during the month at 9.7 per cent. Men were more likely to be unemployed that women with rates of ten per cent and eight per cent respectively.
There was also only a slight difference in the number of long-term unemployed citizens – those who have been out of work for 27 weeks or more – which has remained at around 6.1 million people since December.
It is believed that severe weather conditions may have affected employment rates and the number of hours worked in some areas of the US.
Last week, the BLS revealed that Michigan experienced the highest unemployment rate of all states at 14.6 per cent.
In total, 14 states and the District of Columbia posted jobless rates of ten per cent or higher, while 30 registered figures significantly lower than the national average.
Posted by Andy Price.