by Bill McBride on 8/17/2012 10:50:00 AM
Friday, August 17, 2012
From the BLS: Regional and State Employment and Unemployment Summary
Regional and state unemployment rates were generally little changed or slightly higher in July. Forty-four states recorded unemployment rate increases, two states and the District of Columbia posted rate decreases, and four 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, 12.0 percent in July. Rhode Island and California posted the next highest rates, 10.8 and 10.7 percent, respectively. North Dakota again registered the lowest jobless rate, 3.0 percent.
This graph shows the current unemployment rate for each state (red), and the max during the recession (blue). Two states - New Jersey and New York - are at the maximum unemployment rate for the recession and set new cycle highs in July.
The New York unemployment rate increased to 9.1%, the previous cycle high was 8.9%. The New Jersey unemployment rate increased to 9.8%, the previous cycle high was 9.7%. Every other state has some blue indicating some improvement.
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, although New Jersey is close. In early 2010, 18 states and D.C. had double digit unemployment rates.
Posted by Bill McBride on 8/17/2012 10:50:00 AM