15 States' Unemployment Rates Now Top 10%

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Posted: Jul 17, 2009 2:05 PM
New numbers out today from the Federal Reserve: Unemployment rates in 15 states (and DC) now top the 10% mark.  The nation's unemployment average currently sits at a 26-year high of 9.5 percent and is expected to surpass 10% by the end of the year.  Michigan still retains the title of the nation's highest unemployment rate, topping out at 15.2% in June--the highest rate the state has seen since 1984.

In addition, most Fed policymakers said it may take "five or six years" for the economy and the labor market to get back on track.