Job Market – DC leads the country with the 7.3% unemployment rate

Job Market – DC leads the country with the highest unemployment rate

19 states have unemployment rates of 6.0% or greater in December

Even with the slight improvement in the job market 19 states continue to have high unemployment. California still is at 7% and DC tops the list with a whopping 7.3% rate.  When you add in the participation rate in both of these job markets the true unemployment rate is closer to 10%.

States with High Unemployment – 19 States have 6.0% or greater unemployed

High unemployment states

Add on to this the increase in the labor force due to the recent actions on illegal immigration and the job market picture is not as rosy as depicted by the overall national unemployment rate.

Labor Force Participation

In December of 2014 the work force participation percentage of all employees (male and female) fell to 62.7% as more individuals left the job market. This more than offset the gain in the number of new jobs created.

Work Force Participation

Unemployment Data

During the recession of 2009 – 2013 unemployment in the IT Industry had not been as high as the rest of the United States. Older workers had a higher unemployment rate than your ones. In addition, female high tech employees have not as well as their male counterparts. This is especially true for workers over the age of 55. The unemployment rate for women over the age of 55 for computer and math workers in 2010 was 9.4% versus 8.0% for men.

Unemployment Trend

Author: Victor Janulaitis

M. Victor Janulaitis is the CEO of Janco Associates. He has taught at the USC Graduate School of Business, been a guest lecturer at the UCLA's Anderson School of Business, a Graduate School at Harvard University, and several other universities in various programs.