A few weeks after every big monthly job report comes out, more detailed information is released showing a breakdown of the payroll gains and losses in each state. The latest of these extended reports showed that nonfarm employment increased in fourteen states in June, with the largest absolute gains found in Texas (+40,200), Georgia (+27,400), and New York (+26,000). No states experienced a notable decline in employment last month, and thirty-three states have seen a statistically significant rise in total nonfarm payrolls over the past year.
As for joblessness, ten states in June experienced a decline in their unemployment rate, with the largest drop occurring in Michigan and Tennessee (-0.4 percentage point each). Two states had notable increases in joblessness last month (Maine (+0.3 percentage point) and Utah (+0.2 point)), while the remaining thirty-eight states and the District of Columbia had no significant changes in their jobless rate. The lowest unemployment rate in the continental U.S. in June could be found in Colorado and North Dakota (2.3 percent), and New Mexico had the highest rate of joblessness last month (6.4 percent). For comparison, the national rate of unemployment (U-3) was 4.4 percent in June.
Sources: Econoday, U.S. DoL, Calculated Risk, FRBSLPost author: Charles Couch