The Atlanta Fed's SouthPoint offers commentary and observations on various aspects of the region's economy.
The blog's authors include staff from the Atlanta Fed’s Regional Economic Information Network and Public Affairs Department.
Postings are weekly.
Regional unemployment rates stubbornly high in January
The combined unemployment rate for the states of the Sixth District remained high at 10.5 percent in January for the third month in a row. (This rate is calculated by dividing the sum of unemployed in the six states of the region by the sum of the six respective labor forces.) Nationwide, 24 states posted unemployment rate decreases. Within the district, the unemployment rate decreased in two states (Florida and Mississippi), increased in three states (Alabama, Louisiana, and Tennessee), and was unchanged in one (Georgia).
Most states in the region's labor markets are underperforming compared with the national average. Weakness is concentrated in Florida, Georgia, and Mississippi, where the unemployment rate is above the national rate. Alabama and Tennessee have unemployment rates only slightly above the national rate of 9 percent. Meanwhile, Louisiana remained below the national rate (see the chart below).
How do the Sixth District states' labor markets compare with other states? Well, they rank among the highest in terms of other states' unemployment rates, although not the worst (see the map below).
Although January was not a bright month for the labor market in the district, we saw improvement in the national labor market from January to February, as mentioned in this macroblog post. The February release of state employment statistics will be the morning of Friday, March 25. Hopefully, the Sixth District will also see improvement.
By Sandra Kollen, a senior economic analyst in the Atlanta Fed's research department
TrackBack URL for this entry:
Listed below are links to blogs that reference Regional unemployment rates stubbornly high in January:
- Will Retail Sector Maintain GDP Momentum?
- A Timely Talk with Energy Professionals
- A Closer Look at Earnings in the Southeast
- Has Southeast Manufacturing Found Some Optimism?
- WHAT WAS I THINKING?!?!
- Southeast Commercial Construction Continues Gathering Steam
- Employment Momentum Grows in Florida and the Retail Sector
- Conditions Soften for Southeastern Housing
- Music City Is Playing Your Song
- Signs Point Up for Regional Manufacturing
- December 2014
- November 2014
- October 2014
- September 2014
- August 2014
- July 2014
- June 2014
- May 2014
- April 2014
- March 2014
- Banks and banking
- Beige Book
- Business Cycles
- Commodity Prices
- Consumer Savings
- Data Releases
- Disaster recovery
- Economic conditions
- Economic Growth and Development
- Economic Indicators
- Fiscal Policy
- Gulf Coast
- Health Care
- Holiday Sales
- Labor Markets
- Local Economic Analysis and Research Network (LEARN)
- Monetary Policy
- Natural Disasters
- New Orleans
- Oil Spill
- Real Estate
- Sales Tax