FROM the BLS:
Thirty-four states and the District of Columbia had unemployment rate decreases from September, 5 states had increases, and 11 states had no change . . . Forty-two states and the District of Columbia had unemployment rate decreases from a year earlier, five states had increases, and thee states had no change.
In Maine, the UER remained unchanged from last month at 5.8%, but more importantly is down 0.7 percentage points from a year ago, and down from a recession high of 8.4% in 2009. The month-over-month and year-over-year trends parallel regional changes.
In New England, the UER ticked down to 5.9%, down 0.1 percentage points from last month, and down 1.2 percentage points from a year ago. The northeast (New England and the Middle Atlantic region) saw the UER drop up 0.2 percentage points to 5.9% from July, down 1.4 percentage points from a year ago.
Seasonally adjusted nonfarm payrolls decreased 1,900** from a month ago, but were up 5,800 from a year ago. The year-over-year payroll changes by industry saw government continue to shed jobs, while the majority of new jobs were in education and health services:
- Construction: 600
- Manufacturing: 400
- Trade/Trans./Util.: 700
- Financial Activities: 700
- Pro./Bus. Services: 1,700
- Education/Health Svcs: 1,900
- Leisure/Hospitality: 1,700
- Government: -600
The number of unemployed persons declined 5,300 from a year ago, down to 40,800, but edged up 200 from last month.
*The data is subject to subsequent revisions, and monthly data is volatile and should be taken with a grain of salt.
**Previously I noted the decline in employment in the title. I don’t put much thought into titles because they’re, well, titles. Regardless, I removed the decrease in month-over-month in the title because, after a brief discussion, I don’t want to overstate the value/importance of this change because, as noted, such monthly change is volatile.