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First Cut: October State Unemployment

Unemployment rates by state were overall little changed in October from September, reflecting the relative stability in the national unemployment rate of 3.7% in both months. The BLS reported no change in rates for 42 states and the District of Columbia, lower rates for six states, and higher for two. Hawaii remained the state with the lowest rate at 2.3%, and Alaska the highest with 6.4%. There were new series lows for Texas at 3.7% and Washington at 4.3%. The BLS said that response rates for the survey were within normal ranges in October for the reference period despite Hurricane Michael’s impact on the Florida Panhandle. There does not appear to be any lingering impacts from Hurricane Florence in September. In fact, some of those state saw a subsequent decline in unemployment rates.

State Unemployment Rates Oct 2017 - Oct 2018

Overall, unemployment rates are low across the US with every sign that any remaining slack in labor resources is slim, at most.

(see below for charts)

unemployment rates in the Northeast

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