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Economy in Brief

State Labor Markets in May 2022
by Charles Steindel  June 17, 2022

State payrolls were not as strong in May as in recent months. Only 7 states had statistically significant increases, while 3 report declines. Texas had the largest gain (74,200) while West Virginia jobs rose 1.3 percent. On the other side, Alaska shed 4,400 jo15 bs (1.4 percent), Wyoming lost 2,800 (1.0 percent) and Michigan payrolls fell 14,600. Over the last year, Alaska and Wyoming were the only localities that did not show statistically significant job growth (Alaska's point estimate edged down). Both California and Texas had job growth exceeding three-quarters of a million in that period, and Nevada had a 7.1 percent increase. Aside from Alaska and Wyoming, Wisconsin was the only state with job growth under 2 percent.

16 states saw statistically significant drops in their unemployment rate in their unemployment rates in May, with a number (California, Iowa, Missouri, and Rhode Island) reporting declines of .3 percentage points. The range of unemployment rates across the nation continues to narrow. Nebraska continues to have a 1.9 percent rate; the highs continue to be DC (5.7 percent) and New Mexico (5.1 percent), but in both cases May's number was lower than April's.

Puerto Rico's recovery is ongoing, with a small (likely statistically insignificant) increase in payrolls, and the unemployment rate moving down to 6.2 percent.

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