Since August, 31 states reported a decline in unemployment rate according to the Regional and State Employment and Unemployment Summary released by the U.S. Bureau of Labor Statistics today. 42 states and the District of Columbia also reported unemployed rate decreases as compared to September 2013. As previously reported, the national unemployment rate dropped to 5.9% – a reduction of 1.3% less than last September.
The improvement continued as 37 states reported having positive statistically significant changes in payroll over-the-year. Texas, California and Florida lead the country with the largest number of jobs created in the past 12 months.
September’s State Statistics
As compared to the national unemployment rate of 5.9%, 16 states reported notably lower rates in September while 24 reported rates not significantly different than U.S. figure. Of the states, 7 reported noteworthy over-the-month unemployment rate declines:
- Colorado and Kentucky -0.4% each
- Nevada -0.3%
- Florida, Idaho, Minnesota, and New York -0.2 % each
From an over-the-year perspective, 26 states have reported decreased unemployment rates – the largest of which occurred in Illinois and Nevada, dropping 2.5% and 2.3% respectively.
Again for the month of September, the Midwest had the lowest unemployment rate at 5.7% (down from 5.8% in August), while the West maintained the highest unemployment rate at 6.5%. The following over-the-year decreases in unemployment rate were reported:
- Midwest -1.4%
- West -1.4%
- Northeast -1.3%
- South -0.7%
As the unemployment rate continues to decline in the Midwest, the hunt for tech talent is becoming increasingly more competitive as our colleague Bill Whitlock discussed with Crain’s Cleveland Business. Across the country, the tech unemployment rate remains substantially lower than the national average and having the tools and knowledge to attract new talent and engage current employees is only becoming more and more important for employers.