Recent Updates
- US: Consumer Sentiment (Jan-prelim), Mfg & Trade Inventories & Sales (Nov), IP & Capacity Utilization, Adv Retail Sales, Producer Prices (Dec)
- US: Industrial Production Detail (Dec)
- US: Producer Price Indexes by Commodity Detail (Dec)
- more updates...
Economy in Brief
Empire State Manufacturing Index Declines in January
The Empire State Manufacturing Index of General Business Conditions decreased to 3.5 in January...
U.S. Industrial Production Continues Recovery
Industrial production advanced 1.6% in December...
U.S. PPI Rose 0.3% in December
The Producer Price Index for final demand rose 0.3% (0.8% y/y) in December...
U.S. Business Inventories Accumulate during November as Sales Weaken
Total business inventories increased 0.5% during November (-3.2% y/y)...
The EMU Trade Surplus Stabilizes
Both exports and imports have been regaining momentum...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Charles Steindel November 20, 2020
State labor market data results in October were generally strong. 37 states had statistically significant drops in their unemployment rates from September to October, with Illinois’s 3.6 percentage-point drop being the largest. 8 states, though, saw statistically significant increases in unemployment, with Kentucky’s 1.8 percentage point increase the largest. Unemployment rates in October ranged from Nebraska’s 3.0 percent to Hawaii’s 14.3 percent (Nevada was the only other state with a rate higher than 10 percent). In general, unemployment rates are higher in the Southwest (though Louisiana, New Jersey, and New York all had October rates about 8 percent), and lower in the northern Plains (though Vermont, New Hampshire, Georgia, and Florida are eastern states with rates below 5 percent).
32 states had statistically significant increases in payrolls in October with California and Texas reporting gains greater than 100,000.September (California’s payroll gain of 145,500 was wildly outstripped by the report of an incredible gain of nearly 900,000 in resident employment). Alaska had the highest percentage change. 2 states saw statistically significant drops in jobs.
Looking at the industry composition, states generally saw continued gains in leisure and hospitality—which may now be in jeopardy as the virus ramps up—and reductions in government.