Thursday, August 7, 2014

In The News: Unemployment Rate Study

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

"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.

- Joe Seiner

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