- New Zealand: International Trade (Feb)
- Korea: Consumer Survey Index (Mar); Philippines: Public Finance (Jan)
- Weekly: **Initial Claims Data Revisions Completed**
- Euro area: Flash Consumer Confidence Indicator (Mar)
- US: New Residential Sales (Feb)
- Belgium: Business Survey (Mar)
- Uruguay: GDP (Q4)
- more updates...
Economy in Brief
Kansas City Federal Reserve Factory Index Strengthens; Expectations Surge
The Kansas City Fed reported that its index of regional manufacturing sector business activity increased to 20 during March...
U.S. Initial Unemployment Insurance Claims Rise
Initial claims for unemployment insurance increased to 258,000 (-3.0% y/y) during the week ended March 18...
U.K. Retail Looks Less Bulletproof
For the most part, the assessments embodied in the March survey from the UK's CBI are being taken as being upbeat...
U.S. Existing Home Sales Fall to Five-Month Low; Inventory Remains Tight
Sales of existing single-family homes declined 3.7% (+5.4% y/y) to 5.480 million units (AR) during February...
U.S. FHFA House Price Index Momentum Diminishes
The FHFA U.S. house price index remained unchanged during January following a 0.4% December increase ...
Japan's Trade Trends Turn Sharply Higher
Japan has logged its largest current account surplus since April 2010...
by Tom Moeller December 19, 2016
The decline in the overall unemployment rate to 4.5% during November reflects a range of state unemployment rates from a high of 6.8% in Alaska to a 2.7% low in South Dakota.
The unemployment rate in Alaska continued to top the chart at 6.8% versus 6.5% during all of last year. The level of unemployment has risen 1.8% during the last twelve months versus a 6.6% decline in the country overall. Louisiana also registered a high unemployment rate at 6.2%, about where it's been for three years. Unemployment has risen 4.5% y/y. Two other states at the high end of the scale were West Virginia at 6.0% and Pennsylvania at 5.7%. Employment in the Keystone state rose just 0.4% y/y.
At the bottom of the state unemployment tally were small states including South Dakota at 2.7%, even though it had just 0.9% y/y employment growth. Hawaii similarly had a low jobless rate at 3.0%, reflecting 2.8% growth in employment. Colorado's low 3.2% unemployment rate brought with it 3.6% jobs growth. Another large state with low unemployment was Minnesota at 3.8%, but employment declined 1.4% y/y. The labor force similarly fell 1.3% y/y. Finally, Virginia's low 4.2% jobless rate brought with it just a 0.5% y/y rise in the number of jobs.
Unemployment amongst other states similarly varied greatly. Unemployment in New Jersey at 5.0% remained up from its low of 4.3% in February, as employment dipped 0.2% y/y. New York's unemployment rate of 5.1% was up from a 4.7% low, and employment has declined 1.0% y/y. In New York City, the jobless rate stood at 5.7%, reflecting a 1.9% y/y decline in employment. On the bright side of the unemployment spectrum was Massachusetts where its jobless rate of 2.9% was down from 8.8% in January 2010. Employment has risen 3.3% y/y.
Within large cities, unemployment in and around Los Angeles of 5.1% was below the state's average of 5.3% due to 4.3% growth in employment. Around Chicago, the jobless rate of 5.8% compared to Illinois' average of 5.6%, but employment grew just 0.8% y/y. In Washington, unemployment stood at 5.3%. Around Seattle, the low 3.7% unemployment rate was down from 9.4% during all of 2010, as employment grew 3.9% y/y. Michigan experienced 4.9% unemployment, but it was 5.6% around Detroit where employment declined 2.8% y/y.
State unemployment figures are available in Haver's EMPLR database.
A Healthy Labor Market Still Includes Many Puzzles from the Federal Reserve Bank of Atlanta is available 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|