Unemployment Rates Across US States Remain Stable – Bureau of Labor Statistics

Summary

  • As per recent Bureau of Labor Statistics data, there has been no noticeable change in nonfarm payroll employment across all states from November to December.
  • Last year saw a rise in employment in 30 states, while 20 states and DC reported no significant changes.
  • Massachusetts and Rhode Island saw the highest monthly rise in unemployment with a 0.3 percent increase.
  • Maryland and North Dakota displayed the lowest unemployment rates at just 1.9 percent, contrastingly, Nevada held the highest figure at 5.4 percent, unchanged from the previous month.
  • The national unemployment rate remained consistent at 3.7 percent and the economy added 216,000 jobs in December, an increase from the 173,000 added in November.

Employment Statistics Unchanged

Based on recent information from the Bureau of Labor Statistics, nonfarm payroll employment exhibited no major fluctuations in any of the states. In the preceding year, employment rates increased in 30 states, while remaining relatively unchanged in 20 others and DC.

Latest Unemployment Updates

In terms of unemployment rates, Massachusetts and Rhode Island saw the most significant increase with a jump of 0.3 percentage points. Meanwhile, Minnesota boasted a decline in their unemployment rate by 0.2 percentage points — the only state reporting a decrease.

Lowest and Highest Unemployment Rates

Maryland and North Dakota held the record for the lowest unemployment rates at a modest 1.9 percent. On the other hand, Nevada’s unemployment rate was the highest, maintaining its 5.4 percent rate from November.

National Unemployment Rate and Job Additions

The national unemployment rate in December stood at 3.7 percent, unchanged from the previous month. On a positive note, the economy added 216,000 jobs in December, a marked improvement from November’s addition of 173,000 jobs.

The fluctuating rate of employment and unemployment across various states could have implications for the forex market. Based on the economic health of these states, it might influence the value of certain assets.

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