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Jobs Loss from Business Failures Declined in All Regions <br /> Due to an improved economy, the rate of job loss from business Failures declined in all <br /> regions. The rate dropped sharply in the .Northwest. West Central. Central and Southwest <br /> regions. Nearly three of every four jobs lost From business closures occurred in retail trade <br /> and service industries. Business closures were prevalent in those industries because of a high <br /> • proportion of volatile small businesses and strong industry competition. <br /> The rate of job loss from major business contractions declined in the southern regions to <br /> levels much below the statewide average. The Northwest and West Central regions also Regional <br /> showed below-average job losses from business downsizing. However. the rate remained Analysis <br /> relatively high in the Northeast region and Twin City Area. <br /> 3rd Quarter, 1994 <br /> Rate of Job Loss from Business Dissolution Declined in All Regions <br /> Percent of <br /> Wage and -0.2 -0.1 0.1 -0.2 -0.3 .0.2 -0.2 -0.2 <br /> Salary Jobs <br /> -1 <br /> • •2 <br /> • Statewide Northwest West Central Northeast Southwest Central Southeast Twin Cities <br /> Region Region Region Region Region Region Area <br /> Rate of Job Loss from Business Contraction Dropped Sharply in <br /> Southern Regions <br /> .r <br /> 0 <br /> Percent of <br /> 'Nage and <br /> Salary Joos 0.7 0.5 0.5 ;� 0.5 0.6 J.4 <br /> -0.9 - <br /> -2 <br /> Statewide Northwest West Central Northeast Southwest Central Southeast Twin Cities <br /> Region Region Region Region Region Region Area <br /> • <br /> • <br /> 5 <br />