Commentary: Economically Free States Are Recovering from the COVID-19 Pandemic More Rapidly Than High Control States

The fact that our nation’s unemployment rate is approaching the low rate of 3.5% that was reached just prior to the pandemic should be a cause for celebration. But for a variety of reasons, the official unemployment number is misleading.

The employment situation is not as rosy as it may seem. There is a wide disparity among the states that can be explained by how much economic freedom they allow, including how severely each state shut down its economy due to the COVID-19 pandemic.

Read More

U.S. Added 678K Jobs in February, While Unemployment Decreased Slightly

The U.S. economy added 678,000 jobs in February, according to a Friday report from the U.S. Bureau of Labor and Statistics (BLS), beating economists’ expectations.

Total nonfarm payroll employment increased by 678,000 in February, according to the BLS report, while the unemployment rate dropped to 3.8%, a pandemic low. Job gains were most pronounced in the leisure and hospitality sectors, which added a total 179,000 jobs.

“The labor market continues to be quite hot,” Nick Bunker, an economist at Indeed, told The Wall Street Journal. “It looks like the labor market is still primed for lots of strong employment growth.”

Read More

Connecticut Slow in Job Growth, Won’t Reach Pre-Pandemic Levels Until 2023

Although Connecticut will add 60,000 jobs this year, the state won’t be back to pre-pandemic levels of employment until 2023, industry groups say.

“The inability to grow jobs at the national average or even at the top of the Northeast means that Connecticut’s economy is going to continue to grow slower than the rest of the country and the Northeast,” Chris DiPentima, president and CEO of the Connecticut Business and Industry Association, told The Center Square. “The slow job growth means that businesses are not meeting the customer demand that they have. Connecticut, in turn, is not realizing the state’s total economic growth potential. Most businesses are hopeful that the state will put some policies in place to fuel growth and the jobs added each month will increase. This will help recover the jobs that we’ve lost before the end of this year.”

Read More

U.S. Economy Added 194,000 Jobs in September, Badly Missing Expectations

Person using a laptop, pointing to the screen

The U.S. economy reported an increase of 194,000 jobs in September, and the unemployment rate fell to 4.8%, according to Department of Labor statistics.

The number of unemployed people fell by 710,000 to 7.7  million, according to the Department of Labor statistics released Friday.   Economists projected that employers created 500,000f jobs in September, more than double the figure in August, according to the Wall Street Journal.

Despite the spike in employment, the labor market remains thin due to the pandemic, and job growth earlier in the year was considerably stronger, according to the WSJ.

Read More

Just 14 States Had Positive Job Growth in May

Just 14 states saw positive employment growth between April and May while the majority of the growth was concentrated in a handful of states, according to the Department of Labor.

Fourteen states led by California, Florida and Texas experienced significant job growth, 35 states experienced stagnant job growth and Wyoming saw a decline in employment last month, according to a Department of Labor report released Wednesday. Overall, the unemployment rates in 21 states decreased between April and May while every state’s employment improved compared to May 2020.

While the U.S. continues to report increased job growth, the report showed that the vast majority of the growth has come from about a dozen states.

Read More

Red States Top Those with Lowest Unemployment Rates

"Come in, we're hiring!"

Republican-led states and Vermont reported the lowest unemployment rates in April, according to a new report by the U.S. Commerce Department. States led by Democratic governors recorded the highest jobless rates, according to the report.

Unemployment rates were lower in April in 12 states and the District of Columbia and stable in 38 states, according to the U.S. Bureau of Labor Statistics.

States with the highest unemployment rates in April were Hawaii (8.5%), California (8.3%), New Mexico and New York (both at 8.2%), and Connecticut (8.1%). All five states with the highest unemployment are run by Democratic trifectas, meaning Democrats control the governor’s office and both houses of the state legislature.

Read More