Ohio, Michigan residents‘financially distressed'

Ohio and Michigan residents are more financially distressed than the average American, a study has found.

High levels of unemployment and the strain of housing costs contributed to the nationwide financial distress level in the second quarter of 65.2 on a 100-point scale, down more than a 1 point from a year ago, according to CredAbility, a nonprofit credit-counsel agency. The lower the score, the worse the distress.

Ohio's distress level is 63.06 and Michigan's is 61.01, the study found. A score below 70 indicates distress.

LANSING — Unemployment rates rose last month in three southeastern Michigan counties, with the rates in Hillsdale and Lenawee counties among the worst in the state.

Hillsdale's jobless rate in July jumped to 16.9 percent, up from 15.4 percent in June and the 12th worst among Michigan's 83 counties, according to figures released yesterday by the state Department of Energy, Labor and Economic Development.

The Lenawee rate climbed to 16.2 percent, up from 14.7 percent the month before, and Monroe County's rate increased to 14.4 percent in July, up from 12.9 percent in June. The statewide rate, released last week, was 13.1 percent, down from 13.2 percent the month before.

DETROIT — Fiat SpA Chief Executive Officer Sergio Marchionne said yesterday the Italian carmaker's relations with U.S. dealerships “have never been better,” and more of them than the company expected have applied to sell its cars.

Chrysler Group LLC, the U.S. automaker controlled by Fiat, invited about 600 dealers to a meeting Monday in Detroit to describe plans for Fiat's retail network. Fiat plans to open 200 franchises and has identified 119 U.S. markets with potential small-car sales growth.