Economy

Economic Data Roundup (12/24/2018)

12/24/18 12:00 PM

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 revealed that nonfarm employment in November increased in California (+30,700), Florida (+23,600), Wisconsin (+10,600), and South Dakota (+2,900), and was essentially unchanged everywhere else.

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Overall job growth in America slowed last month, but on a year-over-year basis thirty-seven states have experienced a statistically significant increase in employment, with the largest payroll gains occurring in Texas (+365,400), California (+299,800), and Florida (+241,600). As for joblessness, the unemployment rate fell to a record low in Idaho (2.6 percent), Missouri (3.0 percent), and New York (3.9 percent) in November, and only twelve states ended the month with a rate of joblessness above the national level (3.7 percent). For comparison, during the worst part of the “Great Recession” eleven states had an unemployment rate that exceeded 11 percent, while the highest rate of joblessness last month was just 6.3 percent (Alaska).

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Sources: U.S. DoL, Calculated Risk

Post author: Charles Couch