by Bill McBride on 7/20/2012 11:13:00 AM
Friday, July 20, 2012
From the BLS: Regional and State Employment and Unemployment Summary
Regional and state unemployment rates were little changed in June. Twenty-seven states recorded unemployment rate increases, 11 states and the District of Columbia posted rate decreases, and 12 states had no change, the U.S. Bureau of Labor Statistics reported today.Click on graph for larger image in graph gallery.
Nevada continued to record the highest unemployment rate among the states, 11.6 percent in June. Rhode Island and California posted the next highest rates, 10.9 and 10.7 percent, respectively. North Dakota again registered the lowest jobless rate, 2.9 percent, followed by Nebraska, 3.8 percent.
This graph shows the current unemployment rate for each state (red), and the max during the recession (blue). New York is at the maximum unemployment rate for the recession - every other state has some blue indicating some improvement. New Jersey is close to the recession maximum.
The states are ranked by the highest current unemployment rate. Only three states still have double digit unemployment rates: Nevada, Rhode Island, and California. This is the fewest since January 2009. In early 2010, 18 states and D.C. had double digit unemployment rates.
It appears some of the "sand states", with the largest housing bubbles, are starting to see faster declines in the unemployment rate (Arizona, Florida, California and Nevada).
Posted by Bill McBride on 7/20/2012 11:13:00 AM