Economy

Economic Data Roundup (08/18/2017)

8/18/17 12:00 PM

iStock-626627280.jpgA 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 eleven states in July, with the largest absolute gains found in California (+82,600), Florida (+32,700) and Pennsylvania (+29,000). Georgia had the only significant decline in payrolls last month (-14,000), and twenty-nine states have seen a statistically significant rise in total nonfarm employment over the past year. As for joblessness, only one state (Texas) in July experienced a decline in its unemployment rate, while three states saw their rate of joblessness tick higher. The latter could simply be related to more Americans reentering the job market due to increased optimism about their employment prospects. The lowest unemployment rate in the U.S. in July could be found in North Dakota (2.2 percent), and Alaska had the highest rate of joblessness last month (7.0 percent). For comparison, the national rate of unemployment (U-3) was 4.3 percent in July.

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

Post author: Charles Couch