Thursday, August 7, 2014
As readers of this blog are well aware, the unemployment rate varies widely across the states. I just came upon a recent article that examines which states are the most difficult to secure full-time employment. The worst three? Arizona, California, and Nevada. From the article at 247Wallst.com:
"Nevada’s underemployment rate more than doubled between 2007 and the first quarter of 2014, where it currently stands at 17.4%, the highest rate in the country. State GDP growth was nearly stagnant between 2007 and 2013, growing at an annualized rate of 0.8%, the lowest rate in the country. Slow GDP growth was likely caused by the collapse of Nevada’s housing market in 2008, when average home prices fell 27%."
This article is an important reminder that employment issues are in many ways driven by local economics. It is definitely worth a quick read.