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Massachusetts' Unemployment Rate Takes Nosedive - A Good Sign For Economy

Massachusetts' unemployment rate fell off a cliff in August - which is great news for people who want to get back to work.
Massachusetts' unemployment rate fell off a cliff in August - which is great news for people who want to get back to work. Photo Credit: USDA

The Massachusetts unemployment rate took a nosedive from July to August - a sign that the economy is rebounding.

And Massachusetts no longer has the highest unemployment rate in the country.

The state’s overall unemployment rate fell by 5 percentage points between the two months, according to the U.S. Bureau of Labor Statistics. It’s a rare abrupt change in the monthly rates.

In August, the unemployment rate was 11.3 percent

In July, the rate was 16.2 percent unemployment.

Massachusetts gained more than 50,000 jobs in August, the early numbers indicate.

While Massachusetts’ economy has improved, the unemployment rate is still below the national average of 8.4 percent.

Nevada now has the highest state unemployment rate in the nation with 13.2 percent of employable people out of work

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