Economy

Economic Data Roundup (03/27/2018)

3/27/18 12:00 PM

iStock-137044062.jpgA few weeks after every big monthly job report comes out, more detailed information is released showing a breakdown of the employment gains and losses in each state. The latest of these extended reports showed that nonfarm payrolls increased in eleven states in February, with the largest absolute gains found in Texas (+40,500), New York (+28,000), and Florida (+26,700). No states experienced a statistically significant decrease in total employment last month.

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As for joblessness, the unemployment rate fell in seven states in February, and was essentially unchanged everywhere else. The largest declines last month occurred in Kentucky, Ohio, and Wisconsin (-0.2 percentage point each), and the rates of joblessness fell to a record low in California (4.3 percent), Maine (2.9 percent), Mississippi (4.5 percent), and Wisconsin (2.9 percent). The lowest unemployment rate in America in February could be found in Hawaii (2.1 percent), while Alaska had the highest rate of joblessness last month (7.3 percent). For comparison, the national rate of unemployment (U-3) was 4.1 percent in February.

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Sources: U.S. DoL, Calculated Risk, FRBSL

Post author: Charles Couch