Friday, November 17th, 2017

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Thirty-seven States Add Jobs, But Economy Remains Fragile

Michigan has been surprisingly successful in creating jobs this summer.For once, it looks as if the best place to look for a job was Detroit – employers in the state of Michigan added 27,800 jobs in July, more than any other state. Most of the big gains were in the north of the country, with Massachusetts, New York and Minnesota trailing the Wolverine State.

Manufacturing jobs nationally increased by 36,000, marking the seventh consecutive month of gains. General Motors – which is on the verge of its (second) initial public offering – didn’t even shut down factories for the summer, when it typically retools its equipment.

Overall, the economic recovery remains weak and uneven – though the jobless rate nationally remains stuck at 9.5 percent, there are huge variations. Nevada has nearly 15 percent employment, while in North Dakota, it’s just 3.6 percent.

If you’re a young worker thinking about buying a house, you may want to wait – consumer sentiment on the real estate market is turning negative again. With unemployment so high, many houses are going for a song – but it’s likely that if conditions worsen, they’ll drop in price again.

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