U.S. Unemployment Rates higher in April in all 50 states

May 22, 2020

Fifty states and the District of Columbia posted higher unemployment rates in April based on a report by the Bureau of Labour Statistics (BLS). All 50 states and the District had jobless rate increases from last year. Whereas, there was an increase in the national unemployment rate to 14.7%, over the month which is 11.1% higher than in April 2019.

In addition, “Nonfarm payroll employment decreased in all 50 states and the District of Columbia in April 2020. Over the year, nonfarm payroll employment decreased in all 50 states and the District,” as stated by the BLS.

Unemployment rates

Notably, Nevada exhibited the highest jobless rate in April, 28.2%, followed by Michigan, 22.7%, and Hawaii, 22.3%. The rates in Hawaii and Nevada surpassed their previous series highs by more than 10.0 percentage points each, while the rates in Michigan, New Hampshire, Rhode Island, and Vermont outdid their previous highs by more than 5.0 points each. Connecticut recorded the lowest unemployment rate, 7.9% in April. The next lowest rates were observed in Minnesota and Nebraska, 8.1% and 8.3%, respectively. In total, 27 states had unemployment rates lower than the U.S. figure of 14.7%, while 10 states and the District of Columbia had higher rates. Approximately 13 states had rates that were not noticeably different from that of the nation.

For April, Nevada, Hawaii and Michigan had the largest over-the-month unemployment rate increase by +21.3 percentage points, +19.9 points and +18.4 points, respectively. Rates increased over the month by at least 10.0 percentage points in an additional 17 states. Nebraska and Connecticut experienced the smallest unemployment rate increase by +4.3 percentage points and +4.5 percentage point, respectively.

Furthermore, the largest jobless rate increase from April 2019 was observed in Nevada (+24.2 percentage points), Hawaii (+19.6 points), and Michigan (+18.4 points. However, 21 states experienced increases of 10.0 points or more. Moreover, the smallest jobless rate increases over the year were experienced in Connecticut (+4.2 percentage points) and Minnesota (+4.9 points).

Nonfarm Payroll Employment

In April 2020, Nonfarm payroll employment fell in fifty states. The employment largest decreases in employment occurred in California (-2,344,700), New York (-1,827,300), and Texas (-1,298,900). The largest percentage declines, however, were experienced in Michigan (-22.8%), Vermont (-19.6%), and New York (-18.8%).

Moreover, according to BLS, “All 50 states and the District of Columbia had over-the-year decreases in nonfarm payroll employment in April. The largest job declines occurred in California (-2,324,000), New York (-1,904,900), and Texas (-1,110,600). The largest percentage declines occurred in Michigan (-23.0%), Vermont (-21.5%), and New York (-19.4%).”

Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation (s) or view (s) expressed by that research analyst in this research report.

Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.