U.S. unemployment rates lowered in June in 6 states

Date: July 19, 2019

The Bureau of Labour Statistics reported today that, “unemployment rates were lower in June in 6 states and stable in 44 states and the District of Columbia.” Last year, there were three states with jobless rate decreases and the District had little or no change. Whereas, the national unemployment rate, 3.7%, changed a little from May but was 0.3 %age point lower than in June 2018.

In addition, “Nonfarm payroll employment increased in 4 states in June 2019 and was essentially unchanged in 46 states and the District of Columbia. Over the year, 28 states added nonfarm payroll jobs and 22 states and the District were essentially unchanged,” as stated by BLS.

Unemployment rates
Notably, Vermont recorded the lowest unemployment rate in June, 2.1 %. On the other hand, Alaska had the highest jobless rate, 6.4 %. In total, 13 states had unemployment rates lower than the U.S. figure of 3.7 %, 9 states and the District of Columbia had higher rates, and 28 states had rates that were not much different from that reported for the nation.

For the period of June, there were six states that recorded unemployment rate decreases, the largest of which was in New Jersey (-0.3 percentage point), closely followed by Alabama and Colorado (-0.2 point each).Furthermore, the remaining 44 states and the District of Columbia had jobless rates that were not notably different from those of a month earlier

“Three states had unemployment rate changes from June 2018, all of which were decreases: Delaware, Vermont, and Wyoming (-0.6 percentage point each).”

Nonfarm Payroll Employment
Nonfarm payroll employment rose in four states in June 2019. The job gains occurred in California (+46,200, or +0.3 %), Texas (+45,000, or +0.4 %), Georgia (+20,200, or +0.4 %), and Tennessee (+9,600, or +0.3 %). In percentage terms, the largest increase occurred in California +0.3 %, Texas +0.4%, Georgia +0.4%, and Tennessee +0.3%.

Twenty-eight states had over-the-year increases in nonfarm payroll employment in June. The largest job gains occurred in Texas (+315,600), California (+296,100), and Florida (+218,800). The largest percentage gain occurred in Nevada (+3.3%), followed by Arizona (+2.8%) and Utah and Washington (+2.7% each).

 

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.

2019-07-19T20:53:03+00:00