Share “Unemployment rates below 6 pct. in 25 US...”

Unemployment rates below 6 pct. in 25 US states

Published on NewsOK Modified: May 16, 2014 at 2:09 pm •  Published: May 16, 2014
Advertisement

WASHINGTON (AP) — Unemployment rates fell in nearly all U.S. states last month, and half the states now have rates below 6 percent. The figures are a sign of widespread, if slow, improvement in the nation's job market.

Unemployment rates fell in 43 states in April, the Labor Department said Friday, rose in two states and were unchanged in five.

Hiring is picking up as well. Employers added jobs in 39 states, while 10 states posted job losses. Nebraska reported no change.

Twenty-five states now have unemployment rates of 5.9 percent or lower. The Federal Reserve considers "full employment" to be between 5.2 percent and 5.6 percent. Rates at that level are considered "full employment" because if they fell lower, inflation could rise. But the relationship isn't exact. The national rate fell to 3.9 percent in late 2000 without causing a spike in prices.

Hiring wasn't the whole reason rates fell in many states: Fewer Americans also looked for work. The government doesn't count those out of work as unemployed unless they are actively hunting for jobs.

Many of the states with low unemployment are small. North Dakota continues to have the lowest rate nationwide at 2.6 percent. That's the same as the previous month and down from 3 percent a year ago. Vermont's rate of 3.3 percent is the next lowest.

Continue reading this story on the...