By Economic Editor
Once again, South Dakota scored the lowest unemployment rate for June for all 50 states plus the District of Columbia. South Dakota also had the lowest unemployment rate for the month of May as well at 2.5 percent. As for the other states in the top 10 for May, New Hampshire finished second and Nebraska finished third.
|Unemployment Rates for States
However, North Dakota moved up from fifth to fourth, although its unemployment rate remained the same at 3.2 percent. And Vermont remained at the fourth spot, although its rate dropped from 3.1 percent in May to 3.2 percent in June.
In addition, Hawai’i, Colorado, Idaho, and Maine all remained in the top 10; whereas, Virginia moved into the top 10 and Kansas moved out of the top 10, although Kansas’ unemployment rate only dropped 0.1 percent from 3.7 percent for the month of May to 3.8 percent for the month of June.
As for those states that finished at the bottom, Washington, Mississippi, Alabama, West Virginia, Illinois, Louisiana, New Mexico, Nevada, Alaska, and the District of Columbia all finished in the bottom 10. The state with the worst unemployment rate for June was Alaska at 6.7 percent. Alaska also finished with the worst unemployment rate of 6.7 percent in May as well.
In fact, there was no change from May to June in regards to states moving out of and into the bottom 10 states with the worst unemployment rates. The same nine states including the District of Columbia all remained nestled at the bottom.
What is the unemployment rate? Well it is the percent of those who do not participate (those registered as employed and unemployed) in the work force. Mathematically, it is the labor force minus the number of employed, divided by the labor force, and multiplied by 100 percent.
Or another way to look at how one can obtain the unemployment rate is by taking the number of unemployed, dividing that number by the labor force, and then multiplying that decimal number by 100 percent. Here’s a visual.
What does this mean for South Dakota? This means that it has the lowest number of unemployed workers with respect to its total labor force. However, this doesn’t take into account workers not participating (those not registered or qualified for unemployment) in the market place; or at the very least those workers that aren’t counted by traditional Bureau of Labor Statistics means.
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Photo Credit: Andrew Wiseman
Photo Explanation: Wilson building is home to the District of Columbia city council and mayor
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Categories: Economic News