Economy

Economic Data Roundup (12/29/2017)

12/29/17 12:00 PM

iStock-515742058.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 six states in November, and decreased in two states. The largest absolute gains were found in Texas (+54,500), California (+47,400), and New York (+24,900), while the biggest (and only) declines occurred in Alaska (-3,000) and North Dakota (-2,700).

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As for joblessness, the unemployment rate fell in eight states in November, with the largest decrease found in California, Kentucky, Minnesota, and Ohio (-0.3 percentage point each). The rate of joblessness fell to a record low last month in Alabama (3.5 percent), California (4.6 percent), Hawaii (2.0 percent), Mississippi (4.8 percent), and Texas (3.8 percent). North Carolina and North Dakota were the only states that experienced an increase in their rate of joblessness last month (+0.2 and +0.1 percentage point, respectively). The lowest unemployment rate in America in November could be found in Hawaii, while Alaska had the highest rate of joblessness last month (7.2 percent). For comparison, the national rate of unemployment (U-3) was 4.1 percent in November.

 


 

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

Post author: Charles Couch