BLS: State Unemployment Up and Payrolls Flat

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According to today’s release of the September State Employment and Unemployment report from the BLS, eight states saw increases in their unemployment rates m/m in September and 18 posted y/y increases. The largest m/m increases were seen in Delaware, Maryland, New Jersey, New York and West Virginia, all of which increased 0.2%. Over the year, Oregon saw the biggest increase in unemployment, with its rate moving from 4.2% to 5.2%. Delaware and DC were just behind with each seeing a 0.9% increase. However, we note that Oregon and Delaware both saw labor force increases of approximately 1% over that period, exceeding the increase in unemployed, while in DC’s case, the increase in the number unemployed significantly exceeded the growth in its labor force. California’s unemployment rate remains the highest among the states at 5.6%, but the rate for DC is higher still, at 6.2%. 


Employment was essentially flat among the states m/m, with only Missouri showing any kind of meaningful increase at +0.6%, while New York nonfarm payrolls dropped -0.3%. The remaining states saw little m/m change in payrolls. Over the year, 15 states posted payroll gains, with South Carolina posting the largest percentage increase at +2.3%, followed by Idaho (+1.9%), and New Mexico (+1.8%). South Carolina’s payroll gains were led by professional services, health and education, and leisure and hospitality. Manufacturing employment declined slightly in South Carolina y/y. The y/y gains in Idaho and New Mexico largely came from leisure and hospitality and health and education, respectively. Payrolls in the remaining 35 states and DC were flat y/y. 


All figures referenced in this post are seasonally adjusted. The below exhibit is from today's BLS release.





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