Bureau of Labor Statistics Reports Unemployment Held Steady at 6.7% in December

The U.S. Bureau of Labor Statistics (BLS) is reporting that unemployment rates were lower in December in 19 states, higher in 12 states and the District of Columbia, and stable in 19 states. Forty-five states and the District had jobless rate increases from a year earlier, one state had a decrease, and four states had little or no change. The national unemployment rate, 6.7% was unchanged over the month but was 3.1% points higher than in December 2019. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment decreased by 140,000 for the first time in seven months, over the month of December, following an increase of 336,000 jobs in November. Hawaii and Nevada had the highest unemployment rates in December, 9.3% and 9.2%, respectively. Nebraska and South Dakota had the lowest rates, 3.0% each. In December, the largest unemployment rate decreases occurred in New Jersey (-2.6%) and Arkansas (-2.1%) s). Rates declined over the month by more than a full percentage point in an additional four states: Kansas and Louisiana (-1.3%), Nevada (-1.2%), and Hawaii (-1.1%).

FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.