Employment Improves as only three states are above 6% unemployment
Employment improves as only New Mexico, Alaska, an Alabama have unemployment rates over 6%. At the same time there now are 19 states that have unemployment rates at 4% or less. Six states have unemployment rates ar 3% or less. Those states are Vermont (3.0%), Colorado (2.9%), North Dakota (2.9%), Hawaii (2.8%), South Dakota (2.8%), and New Hampshire (2.7%)
At these levels salaries will start to rise and we forecast that the overall participation rate will begin to increase. This in turn will cause salaries to edge up.