Unemployment rate grim for 13 states

Unemployment rate grim for 13 states

Unemployment rate is grim for 13 states.  Both Nevada and California have had the highest unemployment rates for over 24 months.  The numbers have improved in almost all of the states in the past 12 months save West Virginia.

When one looks at the detail, yes we seem to be better off now than a year ago but with the participation rate being the lowest it has been since 1977 the job market picture is not as rosey as the BLS is telling us.

Unemployment Picture August 2014 vs August 2015 States with Unemployment of 6% or greater

Granted that both Nevada and California look better it is not clear that the picture is improving.  Looking deeper into the number both states have a participation rate that is lower than the average and average compensation is significantly lower as high prices jobs have left both states,

On the bright side there now are 10 states that have an employment rate that meet the criteria for  being full employment states.

States that qualify as being full employment states

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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.