The 10 Worst States to be Unemployed
By Bloomberg Rankings and Nikhil Hutheesing – May 9, 2013 4:53 PM ET
Not All States are Equal
Being jobless is always tough. In some states, though, it’s tougher than in others. Many provide barely enough unemployment income to let people scrape by. Where the unemployment rate is high, the competition for jobs is that much rougher. In states with a big gap between the richest and poorest, the psychological toll of joblessness can be greater, with high-paying jobs hard to get and low-paying jobs unequal to the bills. Across the board, nearly 11 percent in cuts in federally funded unemployment benefits went into effect on March 31, further shrinking resources.
No. 7 New Jersey
Unemployment rate: 8.99%
Benefit as a percentage of income: 38.39%
Wealth disparity ratio: 1.46
New Jersey has the greatest wealth gap in the nation. For every household with income of less than $10,000, there are 1.46 households making at least $200,000. With a high unemployment rate of 9 percent, plenty of people are getting unemployment insurance. It covers a bit more than 38 percent of lost income. Things may get worse: The automatic budget cuts that kicked in this year could result in $6.5 million less in federal grants going into the state’s unemployment insurance in 2013, according to Pew Charitable Trusts. On the bright side, New Jersey’s employed population, as of March, increased 1.16 percent from a year earlier.
https://www.bloomberg.com/money-gallery/2013-05-09/the-top-10-worst-states-to-be-unemployed.html