- Korea: Housing Price Index (Apr)
- US: Consumer Sentiment (Apr-final), GDP (Q1 Adv), ECI (Q1)
- Consumer Sentiment Detail (Apr-final)
- US: Selected NIPA Tables (Q1-Adv), Summary key Source Data (Q1)
- Canada: GDP by Industry (Feb), Industrial Product Prices (Mar)
- *Taiwan National House Price Indexes Rebased to 2016=100.*
- Euro area: HICP (Apr-Flash), ECB Survey of Professional Forecasters (Q2)
- Italy: CPI, HICP (Apr-Prelim)
- Brazil: Sao Paolo Capacity Utilization (Mar);Mexico: Debt (Mar);
- more updates...
Economy in Brief
U.S. Employment Cost Index Has Stronger Gain
Lifted by outsized rises in several industries, the employment cost index for civilian workers rose 0.8% (2.4% y/y) during Q1'17...
Chicago Purchasing Managers Index Strengthens
The Chicago Purchasing Managers Business Barometer Index for April increased to 58.3 from 57.7 in March...
EMU Money and Credit Perk Up
There is some noticeable acceleration in EMU money and credit growth...
Durable Goods Orders Improvement Moderates
New orders for durable goods rose 0.7% (4.5% y/y) during March...
U.S. Initial Claims for Unemployment Insurance Increase
Initial unemployment claims for unemployment insurance rose to 257,000 during the week ended April 22...
U.S. Pending Home Sales Ease
The National Association of Realtors (NAR) reported that pending home sales slipped 0.8% ((+0.8% y/y) during March...
by Tom Moeller October 21, 2016
The decline in the overall U.S. unemployment rate has stabilized this year around 4.9% versus 5.3% during 2015. It was half its late-2009 peak, and varied greatly amongst individual states.
In today's state labor market report for September, unemployment in Alaska continued to top the chart at 6.9% versus 6.5% during all of last year. Louisiana also registered high unemployment at 6.4%, up slightly from the prior two years. Three other large states at the high end of the scale were Pennsylvania at 5.7%, up from 5.0% last year, California at 5.5%, down from 12.1% in 2010, and Illinois also at 5.5%, down from 10.3% in 2010.
At the bottom of the state unemployment tally were small states including South Dakota and New Hampshire, both at 2.9%. Another small state, Nebraska, was near the bottom of the range at 3.2%. There were larger states, however, which registered the lowest unemployment. Virginia was one with 4.0% unemployment with its close proximity to Washington, D.C. Minnesota at 4.0% was low along with Colorado at 3.6%.
Unemployment amongst other states similarly varied greatly. Unemployment in New Jersey registered a sharp rise in unemployment to 5.3% from its low of 4.3% in February, but that's still down from 5.6% in 2015. New York's unemployment rate similarly rose to 5.0% from 4.7%. The rise was led by New York City where the unemployment rate increased to 5.8% from 5.0% in three months. Texans also experienced higher unemployment as the rate rose to 4.8% from its low of 4.3% in March. Massachusetts saw a decline in joblessness to 3.6%, down from 8.8% in January 2010.
Washington state experienced relatively high unemployment with 5.6%, unless you lived around Seattle where the unemployment rate was 3.9%. A similar situation was seen in Illinois where the state's unemployment rate of 5.5% was above the 5.3% rate in Chicago. The opposite was the case in Ohio where state unemployment of 4.8% was below the 5.2% around Cleveland. Michigan's unemployment rate of 4.6% was below the 5.1% around Detroit, but that was down from 15.0% during all of 2009.
State unemployment figures are available in Haver's EMPLR database.
Consequences of Rising Income Inequality from the Federal Reserve Bank of San Francisco can be found here.
Total U.S. Unemployment Rate (%)
Ten States With Highest Jobless Rate
|Ten States With Lowest Jobless Rate|
|Jobless Rate In Other Selected Large States|