Fiscal Highlights - November 2015
A Look at the Change in Utah's 2015 Unemployment Rate Compared to Other States -
Thomas E. Young ( PDF)The unemployment rate in Utah is one of the lowest in the country at 3.6%. Based on the most recent October accounting, only six other states have lower unemployment rates - North Dakota at 2.8%, Nebraska at 2.9%, South Dakota at 3.2%, New Hampshire at 3.3%, Hawaii at 3.3%, and Iowa at 3.5%. The average unemployment rate across all states is 4.9% and the nation as a whole is 5.0%.  Here's a look at Utah's unemployment rate against surrounding states. Utah has the lowest, although it has increased since January, whereas most states have seen their unemployment rates decline.  The slightly increasing Utah unemployment rate presents the question: Where is the unemployment rate accelerating, and where is it decelerating. The places where the unemployment rate has increased in 2015 include West Virginia, New Mexico, Oklahoma, North Carolina, and Pennsylvania. Utah is one of four states where the unemployment rate hasn't increased or decreased through the first ten months of 2015. The unemployment rate in Utah was 3.6% at the end of 2014, and its 3.6% today. The average across all states is -0.1, meaning that most states have seen their unemployment rates decrease so far in 2015. The leading improving state is Indiana at 0.25, followed by Rhode Island at 0.22, Michigan at 0.22, and Maine at 0.22.  |
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