State Payrolls Little Changed in August

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Another month, another low information State Employment Report. Today’s release from the US Bureau of Labor Statistics shows little change in state employment markets in August. Only four states posted m/m increases in nonfarm payrolls in the month, the largest on a percentage basis being a 0.6% gain in New Mexico. No single sector dominated in New Mexico, but most of the gain was concentrated in construction, health & ed, and government. The remaining 46 states saw no material change in employment. The y/y numbers told a similar story, with eight states posting payroll increases and 42 staying flat. The largest y/y percentage gainers were Louisiana, New Mexico, and South Carolina, all at 1.6%. Louisiana saw gains from construction, while New Mexico benefited from increases in health & ed and government. South Carolina saw gains across almost all of the employment sectors, especially health & ed and leisure & hospitality. The District of Columbia continues to suffer from cutbacks in government employment. Its nonfarm payroll totals were down 3.4% y/y in August.  The below exhibit is reproduced from the BLS release.

Source: USBLS

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