Nebraska And North Dakota Unemployment Below 3%

Two states have unemployment rates below 3% They are Nebraska and North Dakota. Each stands out because the national rate is 5%, and in some states over 6%

The jobless rate in Nebraska in October was 2.9% and in North Dakota 2.8%. One factor the two states have in common is low work populations. In Nebraska the figure is 1,007,900. In North Dakota, 458,000. By contrast, the California work force numbers 16,253,100.

While local factors affect the movement in job growth, the national trend favors a further drop in the jobless rate in all states. As part of the BLS report on the jobs situation nationwide in October, its experts wrote on November 20:

Regional and state unemployment rates were little changed in October. Thirty-two states and the District of Columbia had unemployment rate decreases from September, 3 states had increases, and 15 states had no change, the U.S. Bureau of Labor Statistics reported today. Forty-three states and the District of Columbia had unemployment rate decreases from a year earlier, three states had increases, and four states had no change. The national jobless rate was essentially unchanged from September at 5.0 percent and was 0.7 percentage point lower than in October 2014.

The analysis of the range of joblessness by state shows how wide the spread is state to state:

North Dakota had the lowest jobless rate in October, 2.8 percent, followed by Nebraska, 2.9 percent. West Virginia had the highest rate, 6.9 percent. In total, 20 states had unemployment rates significantly lower than the U.S. figure of 5.0 percent, 12 states and the District of Columbia had measurably higher rates, and 18 states had rates that were not appreciably different from that of the nation.

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However, some economists believe that 5% is “full employment” nationwide. If so, the American jobless rate will not drop much further. If so, Nebraska and North Dakota resident should be happy to be stuck at their current numbers