State labor markets were soft in October. Florida’s 28,400 increase (.3 percent) was the only statistically significant change in payrolls (California’s 40,200 gain was not seen as statistically significant). The number of states reporting point declines was comparable to the number reporting increases. The sum of the states’ payroll changes was only 43,800 (noticeably smaller than the national 150,000), the lowest such figure since December 2020.
26 states had statistically significant increases in their unemployment rates in October, though none were larger than .2 percentage point. Nevada continued to have the nation’s highest rate, at 5.4 percent while DC was at 5.0 percent. No other state had a rate more than 1 percentage point above the nation’s 3.9 percent, though California, Illinois, and New Jersey were higher than 4.5 percent. Alabama, Florida, Hawaii, Kansas, Maine, Maryland, Massachusetts, Montana, Nebraska, New Hampshire, North Dakota, Rhode Island, South Carolina, South Dakota, Utah, Vermont, Virginia, and Wyoming, all had rates at or below 2.9 percent, with Maryland at 1.7 percent.
Puerto Rico’s unemployment rate fell t0 5.8 percent, and the island’s payrolls increased 2,800.