Market Overview

States Showing The Most, Least Improvement In July Unemployment Numbers

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States Showing The Most, Least Improvement In July Unemployment Numbers

Unemployment rates fell in 30 states month-over-month in July, rose in nine states, and were stable in 11 states and the District of Columbia, the U.S. Bureau of Labor Statistics said Friday. 

What Happened: Payroll employment varied state-to-state and was mainly driven by differing statewide economic opening policies. 

Massachusetts had the highest state unemployment rate at 16.1%, followed by New York's 16.6%. Twenty-eight states reported unemployment rates lower than the national average of 10.2%, with 11 states at rates that are higher than the national average.

Why It’s Important: Six states saw unemployment rates decline by at least 2%. Michigan experienced the largest decline, with rates declining 6.2% from June. 

New York saw over 176,000 jobs return, and  California also gained over 140,000 jobs.

Many states are still being hit by slower tourism, keeping unemployment extremely high.

Forty-nine states have experienced a non-farm payroll employment decline over the last year. The 10.2% national unemployment rate is 6.5% higher than in July 2019.

What’s Next: August unemployment numbers are scheduled for release Wednesday, Sept. 2.

 

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