According to the latest U.S. Bureau of Labor Statistics (BLS) state-by-state unemployment and employment report for August, unemployment rates were lower in 15 states and D.C. and stable in 35 others. Forty-Nine states and D.C. had jobless rate decreases from earlier in the year and one state was little changed.
The national unemployment rate, 5.2%, declined by -0.2% point over the month and was 3.2 points lower than in August 2020. Nevada had the highest unemployment rate in August, 7.7%, followed by California, 7.5% and New York, 7.4%. Nebraska had the lowest jobless rate, 2.2%, which was also a new series low for the state.
On the employment front, the BLS is reporting that nonfarm payroll employment increased in 11 states, decreased in 3 states, and was essentially unchanged in 36 states and the District of Columbia in August 2021.
Over the year, 49 states and D.C. added nonfarm payroll jobs and 1 state was essentially unchanged. The largest job gains occurred in California (+104,300), Texas (+39,300), and New York (+23,500). The largest percentage increases occurred in Kentucky (+1.1%), Nevada (+0.9%), and New Mexico (+0.7%). Employment decreased in North Carolina (-13,200, or -0.3%), Iowa (-6,500, or -0.4%), and Hawaii (-5,700, or -1.0%).
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.
STATE EMPLOYMENT AND UNEMPLOYMENT — AUGUST 2021