Haves and Have Nots

The U.S. unemployment rate has dipped below 5%, a recovery of jobs that nobody could have expected when we were in the teeth of the Great Recession.  But the wealth of jobs is spread unevenly among U.S. states.

The Bureau of Labor Statistics publishes the unemployment rate for each state, ranging from the most highly-employed (Colorado, at a 2.3% unemployment rate) to Alaska on the bottom end (a 6.7% unemployment rate).  It is perhaps encouraging to see that none of the U.S. states has anything close to 11% of workers out of jobs, which was the national unemployment rate back in 2009.

Among the most highly-employed states are North Dakota (2.5%), Hawaii (2.7%), Nebraska, New Hampshire and South Dakota (2.9%) and Iowa, Vermont and Wisconsin (3.1%).  States near the bottom of the rankings include New Mexico (6.6% unemployed), the District of Columbia (6.0%) and Louisiana (5.7%).  You can find the full list here: https://www.bls.gov/web/laus/laumstrk.htm.

About the Author: Bob Veres has been a commentator, author and consultant in the financial services industry for more than 20 years.  Over his 20-year career in the financial services world, Mr. Veres has worked as editor of Financial Planning magazine; as a contributing editor to the Journal of Financial Planning; as a columnist and editor-at-large of Dow Jones Investment Advisor magazine; and as editor of Morningstar’s advisor web site: MorningstarAdvisor.com.

Mr. Veres has been named one of the most influential people in the financial planning profession by Investment Advisor magazine and Financial Planning magazine, was granted the NAPFA Special Achievement Award by the National Association of Personal Financial Advisors, and most recently the Heart of Financial Planning Distinguished Service Award from the Denver-based Financial Planning Association. 

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