Risky Business

Unemployment Up To Almost 20 Percent In (Parts Of) The US

By Matthew Bandyk

Posted: March 26, 2009

Via Fark, I see that unemployment in Tunica County, Mississippi is up to 19.5 percent, over 11 points higher than the national average. That's pretty depressing. But to put things in perspective, Mississippi is our poorest state (although West Virginia often holds that position), and Tunica County is apparently one of the poorest counties in the poorest state. In 1933, at the height of the Great Depression, the national unemployment rate was nearly 25 percent. So some of the worst job conditions found in the entire country still don't compare to the average across the country in the Great Depression.

Looking at this New York Times map from earlier this month, I can only find three counties worse than 25 percent: Mackinac County, Michigan, Colusa County, California, and Perry County, Tennessee.  (Please let me know if I missed any).

That doesn't mean the situation isn't bad, but it does mean we should pause before making grandiose comparisons.

Here, too.

Not quite as bad here in Plumas County (18.9).

But that's what happens when you put all your eggs in one basket - the county government has encouraged endless home-building, signing off on every possible development with dollar signs in their eyes, bringing dozens of new general contractors and hundreds of construction workers into the area ... and then it all fell apart, once the housing bubble burst.

Our county budget went from 55 million in 2001 to 90 million last year, mostly from property taxes and logging receipts (the demand for which rely upon construction, of course). I think it'll be a tad lower next year.

Kurt Montandon of CA @ Mar 27, 2009 00:08:28 AM

Watchagunnado?

So what do 20 percent of the people do when they are out of work? Go fishin? Grow their own gardens? Shoot rabbits, pigeons and coons? Rob thy neighbors? Watchagunnado? In the cities, it'll probably be more robbing and shooting they neighbors than fishin.

Tony Lee of CA @ Mar 26, 2009 19:28:59 PM

Was it not just a few years ago

that Tunica, Mississippi, was a haven for gambling casinos?

Muser of NM @ Mar 26, 2009 16:54:01 PM

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Risky Business

Risky Business

Matt Bandyk, a reporter for U.S. News, explores capitalism from where it all begins, with the entrepreneur, whose risk taking and experimentation provide the roots from which the rest of the economy grows. As much courage as it takes to create one's own business, even the entrepreneur needs some help, and this blog will look at news, trends, and practical advice for starting and running a small business.

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