California Business Minute™

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Hi, I am Tim Johnson and welcome to the California Business Minute.

The Bureau of Labor Statistics released its December's state-by-state unemployment
data. And although the national rate was unchanged at 10 percent, 43 states and
the District of Columbia saw their unemployment rates increase from November to
December.

Four states saw their unemployment rates decline: Oklahoma (0.5%), South Dakota
(0.2%), Iowa (0.1%) and Michigan (0.1%). Three states had rates unchanged:
California, Idaho and Minnesota.  The rest of the 43 state saw its unemployment
number increase, both in rate and nominal amount. The biggest losers were Louisiana
and Mississippi, both seeing their rates increase by 0.8%. Five more had a 0.7%
increase: Tennessee, Massachusetts, Connecticut, West Virginia and Nevada.

As it pertains to the number of lost/gained jobs, California was the best, with
its unemployed workers declining by 18,300. Michigan was second best, with 11,400
fewer unemployed. It's nice to see those two states at the positive end of the
spectrum.  The most jobs were lost in New York, which saw 36,400 more jobless.
Texas was second-worst, losing 28,700 jobs, Florida followed with 23,500 more
unemployed and Massachusetts along with Tennessee round out the bottom five, each
losing about 21,000 jobs.

The highest unemployment rate is still Michigan, despite its positive month, is
at 14.6% unemployment. Nevada and Rhode Island are nearly tied for second at 13.0%
and 12.9% unemployment, respectively and South Carolina at 12.6% California at 12.4%. 
Other states with double digit rates include Florida at 11.8, North Carolina 11.2,
Illinois at 11.1, Oregon and Alabama at 11%, Ohio and Tennessee at 10.9%, Mississippi
at 10.6% Georgia at 10.3% and the District of Columbia at 12.1%.  Nearly 30% of the
states have a higher unemployment rate than the nation as a whole.

See map below from the Bureau of Labor Statistics illustrating unemployment rates of
states.

I am Tim Johnson and this has been the California Business Minute.