North Dakota Unemployment Rate Drops to 2.6%

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By Douglas A. McIntyre Published
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The unemployment rate in North Dakota dropped to 2.6% last month, an improbable figure given that the rate in the United States is nearly three times that. Fracking may have its disadvantages environmentally, but its jobs benefits are clear, as the unemployment rate in the northern Plains state continues to drop. In November 2012, it was 3.6%.

States with very small populations continue to have an unemployment edge over more populous states, according to new Bureau of Labor Statistics (BLS) data on November unemployment. The jobless rates in Utah, Vermont, Wyoming, South Dakota, Iowa and Hawaii were all under 5%.

The unemployment situation by state improved measurably in most states in November. As a matter of fact, the jobless rate did not rise in a single state, based on measurements against October numbers. The BLS release on the data said:

Regional and state unemployment rates were generally lower in November. Forty-five states and the District of Columbia had unemployment rate decreases from October and five states had no change, the U.S. Bureau of Labor Statistics reported. Forty-two states had unemployment rate decreases from a year earlier, seven states and the District of Columbia had increases, and one state had no change. The national jobless rate declined to 7.0 percent from October and was 0.8 percentage point lower than in November 2012.

The states that took the brunt of the rise in unemployment during the recession continue to be in the worst shape:

Nevada and Rhode Island had the highest unemployment rates among the states in November, 9.0 percent each. The next highest rates were in Michigan, 8.8 percent, and Illinois, 8.7 percent.

At their current rate of improvement, the four states may not have unemployment rates below 7% before the end of 2014.

Across the country, the jobs recovery remains extremely uneven, according to the BLS. In November:

The largest over-the-month increases in employment occurred in California (+44,300), Texas (+28,700), and Indiana (+25,200). The largest over-the-month decrease in employment occurred in Ohio (-12,000), followed by North Carolina (-6,500) and Washington (-6,000)

The rising tide of the economy has not lifted all boats — at least in the case of rapid job creation.

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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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