6 States Have Unemployment Rates Below 4%

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

The unemployment rate in the United States was 5.8% in November. While that is down from 10% during the worst of the recession, it is still above 5%, which what is considered “normal” during a full recovery. However, six states had unemployment below 4% last month. Most have several things in common.

The states are North Dakota (2.7%), South Dakota (3.3%), Utah (3.6%), Idaho (3.9%), Minnesota (3.7%) and Nebraska (3.1%), according to the U.S. Bureau of Labor Statistics (BLS). Each of these states is directly adjacent to at least one other state on the list. Economic success, as measured by jobs, appears to be regional and not confined by state boarders. Another bit of proof of this is what is called the “West North Central” region based on BLS geographic divisions, which had a jobless rate of 4.3% last month. The region is made up of Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota and South Dakota.

The reason for low unemployment in North Dakota is the rise in fracking and other drilling for huge oil deposits. The presence of these industries is spread into adjacent states.

Further to the south, in Nebraska, the economy is aided by a strong agriculture industry. Idaho is the largest supplier of potatoes among all states, and one of the largest of wheat.

What the states share are a small population and one extremely healthy and comparatively large industry.

Other notes from the BLS on civilian labor force and unemployment by census region and division:

The District of Columbia had a rate of 7.4 percent. North Dakota again had the lowest jobless rate, 2.7 percent. In total, 20 states had unemployment rates significantly lower than the U.S. figure of 5.8 percent.

ALSO READ: 11 States With the Lowest Unemployment

[protected-iframe id=”ba90301f1162ed74ab6a27630f58e6c3-5450697-30366712″ info=”//unemployment-rates.findthebest.com/w/lLXyJ4ikYwR” width=”500″ height=”400″ frameborder=”0″ scrolling=”no”]

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.

Continue Reading

Top Gaining Stocks

CBOE Vol: 1,568,143
PSKY Vol: 12,285,993
STX Vol: 7,378,346
ORCL Vol: 26,317,675
DDOG Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ Vol: 4,367,433
CLX Vol: 13,260,523
SYK Vol: 4,519,455
MHK Vol: 1,859,865
AMGN Vol: 3,818,618