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Auto industry helps drive jobless rate to 5-year high of 6.1%
WASHINGTON – Automakers and parts suppliers shed 38,000 jobs in the past 30 days, and the industry has lost 127,800 jobs over the past year, losses that powered the national unemployment rate higher according to federal data released today.
The job cuts in auto manufacturing, combined with 14,000 jobs cut from car dealers and auto parts vendors, were the largest contributors to the 6.1% unemployment rate for August, according to the U.S. Department of Labor. That rate is the highest since September 2003.
Michigan’s unemployment rate stood at 8.5% for July, the highest in the nation, and today’s report suggests it will go even higher in August.
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