Attached is my analysis (pdf file) of today’s BLS report on jobs and unemployment through October in the 50 states and the District of Columbia. I’ve also included my table of nationwide industry-by-industry job losses and gains over the past year, and graphics to puts into context the historic weakness of the jobs market in production in recent years BEFORE the current troubles.
 
I’m glad to discuss details of specific states and markets.
 
A few of the broad highlights are that unemployment has already soared to 9.3% in Rhode Island and Michigan and is 8.2% and 8.0% in California and South Carolina, respectively.

31 states now have fewer total jobs than they had this time last year and the vast majority of states have fewer jobs yr/yr in Construction, Manufacturing, Financial Activities, Wholesale/Retail/Utilities and Information Services. Most state have fewer jobs in Professional and Businesses Services than they had last year and almost half have fewer jobs in Leisure/Hospitality.
 
More recently, 42 states lost jobs over the past two months (August to October) and only Wyoming had strong job growth. Over the past two months, job losses have worsened in almost all states and in almost every major industry. Even private Health Care and Education bureaucracies and Government (mostly local governments) that have been the key job engines for the past two years have weakened sharply and have added jobs over the past two months in barely half the states.
 
The widening pattern of job losses by industry and by state again demonstrate that the current economic crisis has now grown far beyond the Manufacturing, Housing and Banking crises that some have seen as affecting only limited areas of the country.
 
Best,
CWM

TrackBack URI for this entry

Comments (1)

Subscribe to this comment's feed

...
written by bob johns , November 22, 2008

The growth in government jobs over the past few years is actually counterproductive. Who pays those salaries? The folks now unable to do so who find themselves without a job - or more accurately, the remaining fewer employed. Unless, of course, we just pass the cost on to our children via more debt. When we also look at those who have ceased looking for employment the real unemployment rate is north of 12% and growing. Unfortunately, this fact gets little press as both the administration and past congresses want to mute the real impact. Recall one attempt to designate burger flippers as part of manufacturing about 4 years ago??? Let's hope those newly elected in 2006 and 2008 really "get it" as to the reality of the task they face. A reality check is one "change" I hope the Obama administration pursues with a vengeance.

report abuse

vote down

vote up

Votes: +0

Write comment

Name

Title

Comment

smaller | bigger

Subscribe via email (Registered users only)

I have read and agree to the Terms of Usage.

Add Comment Preview