Nevada Passes Michigan In Unemployment Rate, Motor State Held Top Spot Since April 2006

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By Douglas A. McIntyre Updated Published
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After four years, Michigan lost its spot as the unemployment leader in the U.S., according to May numbers from the Bureau of Labor Statistics. Unemployment fell in 37 states during the month.

Nevada took Michigan’s spot with an unemployment rate of 14% percent in May. It was the first month in which Nevada recorded the highest rate among the 50 states.

The unemployment rate in Michigan was still a stunning 13.6%.

The reason for a steadying of the rate in Michigan that the auto firms probably did most of their layoffs in 2008 and 2009. Some of these companies are already hiring back very small numbers of workers. Several car companies will keep factories open during the summer instead of going through several weeks of shut-downs as they have in years past.Nevada’s employment has relied very heavily on gaming and construction. Both have been severely undermined by the recession.

Rounding out the top unemployment among the four states with highest percentage of people out of work were California at 12.6% and Rhode Island at 12.3%. The states with the lowest unemployment were North Dakota at 3.6%, South Dakota at 4.6%,  and Nebraska at 4.9%.

States with unemployment rates significantly differ-
ent from that of the U.S., May 2010, seasonally adjusted
--------------------------------------------------------------
                State                |          Rate(p)
--------------------------------------------------------------
United States (1) ...................|           9.7
                                     |
Alaska ..............................|           8.3
Arkansas ............................|           7.7
California ..........................|          12.4
Colorado ............................|           8.0
Delaware ............................|           8.8
Florida .............................|          11.7
Hawaii ..............................|           6.6
Illinois ............................|          10.8
Iowa ................................|           6.8
Kansas ..............................|           6.5
                                     |
Louisiana ...........................|           6.9
Maine ...............................|           8.0
Maryland ............................|           7.2
Michigan ............................|          13.6
Minnesota ...........................|           7.0
Mississippi .........................|          11.4
Montana .............................|           7.2
Nebraska ............................|           4.9
Nevada ..............................|          14.0
New Hampshire .......................|           6.4
                                     |
New Mexico ..........................|           8.4
New York ............................|           8.3
North Dakota ........................|           3.6
Ohio ................................|          10.7
Oklahoma ............................|           6.7
Rhode Island ........................|          12.3
South Carolina ......................|          11.0
South Dakota ........................|           4.6
Texas ...............................|           8.3
Utah ................................|           7.3
                                     |
Vermont .............................|           6.2
Virginia ............................|           7.1
Wisconsin ...........................|           8.2
Wyoming .............................|           7.0
--------------------------------------------------------------
1 Data are not preliminary.
p = preliminary.

Source: BLS

Douglas A. McIntyre
Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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