Global| Sep 20 2013U.S. State Unemployment Rates Move Lower
by:Tom Moeller
|in:Economy in Brief
Summary
The overall U.S. unemployment rate moved declined last month to 7.3%. While the rate's improvement was widespread, it continued to reflect great variation amongst individual states. Nevada continued to be at the high end of the [...]
The overall U.S. unemployment rate moved declined last month to 7.3%. While the rate's improvement was widespread, it continued to reflect great variation amongst individual states. Nevada continued to be at the high end of the jobless rate's range at 9.5%, yet that was down from 13.8% averaged during 2010. To the upside m/m was Michigan. Here, the unemployment rate rose to 9.0%, though it remained down 3.7 percentage points versus 2010. Also, California's jobless rate inched up m/m to 8.9% but it was 3.4 percentage points lower than the 2010 high of 12.3%.
In other states, job market improvement has been slower to develop. Though New Jersey's unemployment rate slipped to 8.5% last month, it was down just one percentage point from the 2010 average. In New York the same picture of slow job market improvement was in evidence. Last month's 7.6% unemployment rate was up m/m and down just one percentage point from the 2010 high. Illinois also held near the country's high at a 9.2% unemployment rate and that was down just slightly from 10.4% in 2010.
The unemployment rate figures in individual metropolitan areas continue, in a few circumstances, to differ widely from the state numbers. Florida's 7.0% unemployment rate, is well below the 7.9% in the Miami metro area, although Miami's rate is down from 12.4% in 2010. Michigan's 9.0% jobless rate also is under the 9.6% jobless rate around Detroit. New York state's 7.6% unemployment rate is below the 8.6% in New York City while California's 8.7% rate is under 9.9% around Los Angeles. Still near one another is the Illinois unemployment rate of 9.2% and the 9.4% rate around Chicago. Also, Ohio's 7.3% rate of joblessness is near Cleveland's of 7.2%. Working the other way is Washington state's 7.0% jobless rate as it by far exceeds Seattle's 5.2%.
State unemployment figures are available in Haver's EMPLR database.
| State Unemployment Rate | Aug | Jul | 2012 | 2011 | 2010 | Labor Force |
|---|---|---|---|---|---|---|
| Total U.S. | 7.3% | 7.4% | 8.1% | 8.9% | 9.6% | 155.7 mil |
| Ten States With Highest Jobless Rate | ||||||
| Nevada | 9.5 | 9.5 | 11.1 | 13.2 | 13.8 | 1.4 |
| Illinois | 9.2 | 9.2 | 8.9 | 9.7 | 10.4 | 9.6 |
| Michigan | 9.0 | 8.8 | 9.1 | 10.4 | 12.7 | 4.7 |
| California | 8.9 | 8.7 | 10.5 | 11.8 | 12.3 | 18.6 |
| North Carolina | 8.7 | 8.9 | 9.5 | 10.3 | 10.8 | 4.7 |
| New Jersey | 8.5 | 8.6 | 9.5 | 9.3 | 9.6 | 4.6 |
| Tennessee | 8.5 | 8.5 | 8.0 | 9.3 | 9.8 | 3.1 |
| Mississippi | 8.5 | 8.5 | 9.1 | 10.5 | 10.5 | 1.3 |
| Indiana | 8.1 | 8.4 | 8.4 | 9.0 | 10.1 | 3.2 |
| States With Lowest Jobless Rate | Aug | Jul | 2012 | 2011 | 2010 | Labor Force |
| Virginia | 5.8% | 5.7% | 5.9% | 6.5% | 7.1% | 4.2 mil |
| Minnesota | 5.1 | 5.2 | 5.6 | 6.5 | 7.3 | 3.0 |
| New Hampshire | 5.0 | 5.1 | 5.5 | 5.5 | 6.1 | 0.7 |
| Iowa | 4.9 | 4.8 | 5.2 | 5.9 | 6.3 | 1.6 |
| Utah | 4.7 | 4.6 | 5.7 | 6.9 | 8.1 | 1.4 |
| Wyoming | 4.6 | 4.6 | 5.4 | 6.1 | 7.0 | 0.3 |
| Vermont | 4.6 | 4.6 | 5.0 | 5.6 | 6.4 | 0.4 |
| Hawaii | 4.3 | 4.5 | 5.8 | 6.5 | 6.8 | 0.7 |
| Nebraska | 4.2 | 4.2 | 3.9 | 4.5 | 4.7 | 1.0 |
| North Dakota | 3.0 | 3.0 | 3.1 | 3.5 | 3.8 | 0.4 |
| Jobless Rate In Other Selected Large States | Aug | Jul | 2012 | 2011 | 2010 | Labor Force |
| Arizona | 8.3% | 8.0% | 8.3% | 9.4% | 10.4% | 3.0 mil |
| Connecticut | 8.1 | 8.1 | 8.3 | 8.9 | 9.3 | 1.8 |
| New York | 7.6 | 7.5 | 8.5 | 8.3 | 8.6 | 9.6 |
| Ohio | 7.3 | 7.2 | 7.2 | 8.6 | 10.0 | 5.7 |
| Massachusetts | 7.2 | 7.2 | 6.7 | 7.3 | 8.3 | 3.5 |
| Florida | 7.0 | 7.1 | 8.6 | 10.3 | 11.3 | 9.4 |
| Louisiana | 7.0 | 7.0 | 6.4 | 7.3 | 7.4 | 2.1 |
| Washington | 7.0 | 6.9 | 8.2 | 9.2 | 9.9 | 3.5 |
| Wisconsin | 6.7 | 6.8 | 6.9 | 7.6 | 8.4 | 3.1 |
| Texas | 6.4 | 6.5 | 6.8 | 8.0 | 8.2 | 12.8 |
Tom Moeller
AuthorMore in Author Profile »Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
More Economy in Brief
