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Georgia is losing jobs at a faster rate than other states

AP: State unemployment data released today. 

Today the Bureau of Labor Statistics released its report on the regional and states unemployment rates. The U.S. unemployment rate grew to 9.8 percent in September, up 0.1 percentage point from August and 3.6 percentage points from September of last year.

Michigan and Arizona lost the biggest percentage of jobs, at 7.5 percent. Nevada and Oregon lost the second highest percentage of jobs, at 6.1 percent. Georgia was a close third, at a 6.0 percent decrease in jobs. These areas areas have been particularly hard hit by job losses in the manufacturing, real estate, and banking industries.

The states with the highest increases in unemployment rates were Michigan, with an increase of 6.4 percentage points, Nevada, with an increase of 6 percentage points, and Alabama, which increase 5.3 percentage points. The smallest increase in unemployment since this time last year was North Dakota, with just a 0.9 percentage point increase.

Although other areas of the economy, such as consumer spending, personal income, and GDP growth, are starting to show signs of improvement, the unemployment rate has been slow to respond to the recovery efforts. Businesses remain reluctant to increase their hiring efforts until they can be sure that the increased economic activity is here to stay.

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