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The Willis Report

D.C., Stay the Course and Put Americans Back to Work

Just a few months ago we were telling you about silver linings in the jobs market, but these days those are almost impossible to find. And, a new report from the Labor Department doesn't help.

Unemployment rates rose in more than half the states in August - for the third straight month. Only 12 states reported an improving picture.

The story is the worst in Nevada. It has the highest unemployment in the nation - the rate jumped a half a percent just from July to nearly 13.5%! Despite being home to one of the hottest tourist destinations in the country, foreclosures are rampant and the construction industry at a standstill.
The same can be said for California and Michigan - with similarly high unemployment rates.

It's not all bad news - thanks to booming oil and manufacturing industries - North Dakota continues to have the lowest unemployment rate at 3.5%.

Nebraska and South Dakota are not far behind. Due to the ongoing cuts at state and local governments - New York, Georgia and Washington D.C. reported the biggest job losses.

Minnesota posted the biggest job gain in August, hiring more than 28,000 people. But that's a bit misleading, since most of those jobs were workers who were temporarily laid off during the government shutdown in July.

The bottom line: too many people are still without jobs. And worse, many aren't even looking for one anymore.

As we debate a host of issues in D.C. and state capitols across the country, we can't lose sight of the goal: putting Americans back to work, and therefore our economy back on track.

Be sure to catch the Willis Report on the FOX Business Network every weekday from 5-6pm ET.

Gerri Willis joined Fox Business Network (FBN) in March of 2010. Willis is an anchor and personal finance reporter for the network.

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15 Y Fixed Graph 2.95% up 2.94%  
30 Y Fixed Jumbo Graph 4.27% up 4.24%  
5/1 ARM Graph 3.13% up 3.05%  
5/1 Jumbo ARM Graph 3.77% up 3.70%  
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$30K HELOC Graph 4.40% up 4.38%  
$50K HELOC Graph 4.07% up 4.06%  
$30K Loan Graph 4.54% dw 4.56%  
$50K Loan Graph 4.20% -- 4.20%  
$75K Loan Graph 4.20% -- 4.20%  
Loan Type Graph Rate +/- Last Week
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36 M Used Graph 3.29% dw 3.30%  
48 M New Graph 3.05% dw 3.06%  
48 M Used Graph 2.96% up 2.87%  
60 M New Graph 3.13% dw 3.14%  
Loan Type Graph Yield +/- Last Week
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1 yr Graph 0.61% -- 0.61%  
5 yr Graph 1.44% dw 1.48%