Thursday, August 22, 2013

28 States see a Rise in the Jobless Rate

The labor market's progress was uneven across the U.S. in July, with many states and regions experiencing rising unemployment despite an overall decline across the country. 
The unemployment rate rose in 28 states and the District of Columbia, fell in eight states and held steady in the remaining 14, the Labor Department said Monday. 
Nationwide, the unemployment rate fell to 7.4% from June's 7.6%, partly because the number of employed people rose, though some also left the labor force. That was the lowest overall level since December 2008.
The unemployment rate grew the most in Alaska and Georgia, at 0.3 percentage point. Rates stand at 6.3% in Alaska and 8.8% in Georgia. Mississippi made the most progress on the labor front, with its rate declining 0.5 percentage point to 8.5%. 
The numbers reflect frustratingly slow economic growth. Employers have been adding jobs but the pace hasn't been fast enough for the 11.5 million Americans who want a job but can't find one; in July, employers added 162,000 jobs, the lowest total since March.
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