US jobless rate declines in 34 states
The US unemployment rates declined in 34 states, i.e. two-thirds of the total American states, in the month of October.
The jobless rate last month clearly indicated that the steady hiring going on this year has been broadly dispersed in most parts of the country.
The Labor Department report, released on Friday, showed that the unemployment rates increased in just five US states, which is the lowest since April. While the jobless rates remained unchanged in 11 states.
Meanwhile, the financial experts said the steady growth in the US economy prompted more employers to conduct more hiring, though the effort has not yet boosted wages.
The companies added 214,000 jobs in October across the country, resulting into the ninth consecutive month of gains above 200,000. This is considered to be the longest such stretch since 1995.
The US unemployment rate stood at a six-year low of 5.8 percent.
With 7.7 percent, Georgia reported the highest unemployment rate last month. It was reported 7.9 percent in September. North Dakota maintained the lowest jobless rate at 2.8 percent.
The companies added jobs in 38 states, while cutting them in 12. California turned to be the biggest gainer with the addition of 41,500 more jobs; while Texas and Florida gained 35,200 and 34,400 additional jobs respectively.
Nevada turned to be the largest loser with a decrease of 7,300 jobs followed by New York and New Jersey which recorded a cut of 5,600 and 4,500 jobs respectively.
- Thomas Vavra
Thomas is a registered accountant with a passion for crunching numbers. He has spent the past twenty years helping business owners find success and contributing to their efforts of streamlining business operations. He's always had a knack for computers and everything that has to do with information technology, so when he set up his first blog, over 15 years ago, he knew there was no turning back.
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