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41 American states witness drop in unemployment in November

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The rate of unemployment declined in 41 states in the month of November, signaling toward a breakout month for the national labor market.

The joblessness rose in three states and remain unchanged in six, the Labor Department said on Friday.

According to the report, 24 states had posted the drop in unemployment rate at least two percent on a seasonally adjusted basis in November.

North Carolina witnessed the steepest downfall to 5.8 percent from 6.3 percent.  According to economist Michael Dolega of TD Economics, the state is reaping the benefits of a shift in manufacturing from sectors like old-line textiles as well as furniture to the fast-growing industries, including aerospace and pharmaceuticals.

The unemployment declined 0.4 percentage points in four states, leading to rates of 7.2 percent in Georgia, 6.7 percent in Michigan, 6 percent in Delaware and 5.6 percent in Maryland. The unemployment also declined significantly in Missouri, Nebraska, Ohio, Arkansas, Tennessee, Pennsylvania and Virginia.

The instant decline in Georgia allowed it to be overtaken by Mississippi as the state with the highest joblessness rate of 7.3 percent. North Dakota, which is received maximum benefit from an oil boom, continued to have the lowest unemployment rate of 2.7 percent.

The payrolls also rose in 37 states and the District of Columbia, California jagged the highest surge, 90,100. With 41,900 gains, Florida was followed by Texas that picked up 34,800 employments.

Vermont saw the biggest surge in percentage terms, with jobs rising 1.2 percentage points, followed by Hawaii, Delaware South Carolina and Wisconsin.

 

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Filed Under: Financial News Tagged With: United States employment rate, US jobless rate, US Labor Department, US labor market, US Unemployment

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