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Inland Empire Business News August 13, 2014.002
Inland Empire Business News August 13, 2014.002

2014 was a good year for job growth

Unemployment fell in all 50 states and the District of Columbia last year.

Overall, the national jobless rate fell to 6.2 percent in 2014, a year-over-year drop of 1.2 percent, according to the U.S. Bureau of Labor Statistics.

Perhaps even more encouraging, the employment-population ratio – which measures the percentage of the country’s working-age population that is working -was up in 35 states and the District of Columbia, down in 12 states and unchanged in three, according to data released this week by the bureau.

Working-age population is usually defined as 15 to 64 years old. Some economists regard the employment-population ratio as the most accurate assessment of the labor market.

Last year was the first year since 1984 that unemployment fell in all 50 states and the District of Columbia compared with the previous year, according to the bureau, which is part of the U.S. Department of Labor.

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