Beverly Hills 11/19/2009 5:36:23 AM
News / Finance

Unemployment Rate Falls in Michigan

Financial World News Update by Equities Magazine

Unemployment in Michigan fell .2 percent to 15.1 percent in October. Michigan has been plagued with the worst unemployment in country, hitting 15.3 percent in September.  

Despite the drop, it continues to have the highest unemployment rate in the country, followed by Nevada with 13.3 percent. Michigan lost 263,000 jobs since this time last year, though state officials announced Wednesday that 39,000 payroll jobs had been added to the economy since the start of October.

Joblessness in Michigan has caused significant problems for the state budget, which is expected to encounter tremendous difficulty making up for gaps formed by revenue losses once stimulus money runs out in 2011.

About EQUITIES:

Since 1951, EQUITIES Magazine has been a leading media company providing business editorial content designed to serve the needs of business leaders, professionals, institutional investors and retail investors. We are focused on business and the business of making money, not on lifestyle subjects. We publish original reporting in print and on the Internet at www.equitiesmagazine.com, as well as select content at www.nasdaq.com.  For 28 years we have hosted our own branded investor conferences that connect public company CEO’s with our loyal readers in the investment community.

 

Sign up for a free one-year subscription to EQUITIES Magazine