The big news in this month’s regional and state unemployment report from the U.S. Bureau of Labor Statistics was the unemployment rate decrease from September in 34 states and the District of Columbia.
As compared to this time last year, 42 states and the District of Columbia have reduced their unemployment rate. As previously reported, the national unemployment rate is currently 5.8% – 1.4% less than October 2013. Once again, North Dakota reported the lowest jobless rate with 2.8 percent.
The State Statistics
The October reported showed 38 states posted significant increases in employment for the month as well as 35 states with statistically significant growth over the year. Of them, the states with the greatest growth were:
- California: +41,500 jobs in October; +319,500 over-the-year
- Texas: +35,200 jobs in October; +421,900 over-the-year
- Florida: +34,400 jobs in October; +206,900 over-the-year
From a percentage standpoint, Wyoming, Idaho and Utah reported substantial gains in employment with increases of 1.4%, 0.8% and 0.7% respectively for the month.
October’s Regional Outlook
For the sixth straight month, the Midwest held the lowest unemployment rate of the regions with 5.6%. The most significant changes in unemployment rate for the month occurred in the following regions:
- Northeast -0.2%
- South -0.2%
- Midwest -0.1%
Over the year, all of the regions have seen a reduction in unemployment rate, the largest of which being in the Midwest and Northeast declining 1.4% each.
The Tech Employment Revolution
Tech continues to be a leader in employment growth across the country. The Wall Street Journal reported last week that New York City has a record number of jobs – most of which are fueled by the tech sector. The revolution of the tech industry in the past 25 years has created a vast need for skilled workers, and our latest infographic is a detailed timeline of the evolution of the IT professional. View it here.