Economic Data Roundup (10/23/2017)

10/23/17 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 employment gains and losses in each state. The latest of these extended reports showed that nonfarm payrolls increased in five states in September, and decreased in six states. The largest absolute gains were found in California (+52,200), Washington (+13,800), and Indiana (+11,400), while the biggest declines occurred in Florida (-127,400), New York (-34,100), and Missouri (-10,500).

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The sharp drop in Florida was equivalent to a 1.5 percent decline in total nonfarm employment but likely just a temporary setback related to hurricane Irma. As for joblessness, the unemployment rate rose in four states in September, with the largest increase found in Michigan (+0.4 percentage point). Eleven states experienced a statistically significant decrease in their rates of joblessness last month, with the biggest decline occurring in Alabama (-0.4 percentage point). The lowest unemployment rate in America in September could again be found in North Dakota (2.4 percent), while Alaska had the highest rate of joblessness last month (7.2 percent). For comparison, the national rate of unemployment (U-3) was 4.2 percent in September.



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

Post author: Charles Couch