Wednesday, January 21, 2009

New Jersey's unemployment rate tops 7%

Click on image for a larger view.

According to the unemployment rate for New Jersey was 7% in December 2008. That's the highest level in over 15 years and up a 1 full percentage point in 1 month.

Additionally, New Jersey's Unemployment Insurance Trust Fund has just $400 million in it--or about 10 weeks worth of money. So by the end of April, 2009 the New Jersey unemployment fund could run dry and the state would have to borrow money from the Feds.

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