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Statistics Show Recession Recovery Is Slow

Although we are coming out of the recession, unfortunately many families are still struggling. Unemployment is still incredibly high, and bankruptcy filings and foreclosures have increased quite a bit as well.

For example, as of August 2010, Nevada had an unemployment rate at 14.4%. For comparison, New York's was 8.3%, California's was 12.4% and North Dakota's was 3.7%. New York is slightly below average for the unemployment rates.

As for foreclosures, Nevada has the second highest rate with 10.33%. Florida had the highest, at 14.04%. New York's foreclosure rate was 4.57%. North Dakota again had the lowest rate of foreclosure, 1.02%. Averages seem to hover around 3%.

Unemployment and foreclosures are two strong indicators of bankruptcy filings. Contact a Long Island Bankruptcy Attorney at our firm to learn more.
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