Haver Analytics
Haver Analytics
| Apr 21 2023

State Labor Markets in March 2023

State payrolls were little-changed in March. Only 2 states (Massachusetts and Kentucky) saw statistically significant increases, and a number saw point declines. The largest numerical gain was Texas’s 28,600. The sum of the changes in all the states was a modest 177,300.

18 states saw statistically significant declines in unemployment, none larger than the .3 percentage point drops in New Hampshire, Oregon, and West Virginia. DC experienced a .1 percentage point increase. Nevada continued to have the highest unemployment rate, 5.5 percent. The two Washingtons (DC and the state) were the only other places with unemployment rates as much as a point higher than the national average of 3.5 percent. Alabama, Nebraska, New Hampshire, South Dakota, and Wisconsin were at least a pointer under the national rate, with that n South Dakota an incredible 1.9 percent.

Puerto Rico’s unemployment rate held at 6.0 percent, and its job count was essentially unchanged.

  • Charles Steindel has been editor of Business Economics, the journal of the National Association for Business Economics, since 2016. From 2014 to 2021 he was Resident Scholar at the Anisfield School of Business, Ramapo College of New Jersey. From 2010 to 2014 he was the first Chief Economist of the New Jersey Department of the Treasury, with responsibilities for economic and revenue projections and analysis of state economic policy. He came to the Treasury after a long career at the Federal Reserve Bank of New York, where he played a major role in forecasting and policy advice and rose to the rank of Senior Vice-President. He has served in leadership positions in a number of professional organizations. In 2011 he received the William F. Butler Award from the New York Association for Business Economics, is a fellow of NABE and of the Money Marketeers of New York University, and has received several awards for articles published in Business Economics. In 2017 he delivered Ramapo College's Sebastian J. Raciti Memorial Lecture. He is a member of the panel for the Federal Reserve Bank of Philadelphia's Survey of Professional Forecasters and of the Committee on Research in Income and Wealth. He has published papers in a range of areas, and is the author of Economic Indicators for Professionals: Putting the Statistics into Perspective. He received his bachelor's degree from Emory University, his Ph.D. from the Massachusetts Institute of Technology, and is a National Association for Business Economics Certified Business EconomistTM.

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