by Bill McBride on 1/18/2013 10:59:00 AM
Friday, January 18, 2013
From the BLS: Regional and State Employment and Unemployment Summary
Regional and state unemployment rates were generally little changed in December. Twenty-two states recorded unemployment rate decreases, 16 states and the District of Columbia posted increases, and 12 states had no change, the U.S. Bureau of Labor Statistics reported today. Forty-two states and the District of Columbia registered unemployment rate decreases from a year earlier, six states experienced increases, and two states had no change.Click on graph for larger image in graph gallery.
Nevada and Rhode Island recorded the highest unemployment rates among the states in December, 10.2 percent each. North Dakota again registered the lowest jobless rate, 3.2 percent.
This graph shows the current unemployment rate for each state (red), and the max during the recession (blue). All states are below the maximum unemployment rate for the recession.
The size of the blue bar indicates the amount of improvement - Michigan, Ohio and Nevada have seen the largest declines - New Jersey is the laggard.
The states are ranked by the highest current unemployment rate. Only two states still have double digit unemployment rates: Nevada and Rhode Island. In early 2010, 18 states and D.C. had double digit unemployment rates.
I expect the unemployment rate in Nevada to fall below 10% very soon.
Even though Nevada still has the highest unemployment rate (tied with Rhode Island), the rate has declined in recent months, falling from 12.1% in August to 10.2% in December.
Posted by Bill McBride on 1/18/2013 10:59:00 AM