Tuesday, September 22, 2009

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US Jobless rate tops 12% in 5 states

Five states posted jobless rates above 12% in August, according to federal data released Friday. California, Nevada and Rhode Island each hit record-high rates, the Labor Department said.

-Michigan: 15.2%
-Nevada: 13.2%
-Rhode Island: 12.8%
-California: 12.2%
-Oregon: 12.2%
Source: CNNMoney

Michigan led the nation in unemployment, with a rate of 15.2%, while Nevada was next at 13.2% and Rhode Island was third at 12.8%. California and Oregon were tied for the fourth spot, each with unemployment at 12.2%.

"The losses tend to be heavy in states that have a high concentration of manufacturing jobs or were hit hard by the housing bust," said Mark Vitner, economist at Wachovia.

In August, 27 states and the District of Columbia recorded month-over-month unemployment rate increases, while 16 states posted a decrease in unemployment and seven saw rates hold steady.

The total number of nonfarm jobs fell in 42 states and the District of Columbia, while 8 states saw an increase.

The state-by-state unemployment report for August came after the government reported earlier this month that American employers cut 216,000 jobs in August, sending the nationwide unemployment rate to 9.7% from 9.4% in July.

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