Unemployment Rates by State - Low and High Unemployment Rate States
14 states have unemployment levels at 3% or less - 6 of these states had an increase in the unemployment rate from the prior month
On an ongoing basis, Janco analyzes the unemployment rates reported by the BLS. This is included in the firm's analysis of the projected number of jobs that will be added or deleted from the IT profession. The National unemployment data provides a measure of the health of the overall labor market. A more granular metric is one that considers local conditions - i.e. state and local unemployment.
Between California and New York alone, almost 3 million jobs were lost during the Covid shutdowns.
The IT Unemployment rate in the months of August thru November exeeded the US national unemployment rate - That is a bad omen for the IT Job Market in general. This impact can be seen in both the computer hardware and software markets in falling sales. There currently are over 156,000 unemployed IT Professionals. Read on...
Long Term Trend - IT Job Market versus state by state unemployment rate
Employment of IT professionals traditionally is tied to the national unemployment rates. In our research we have found that the number of IT jobs created or lost is tied to the number of states that are at full employment (3.0% or less) versus those with high unemployment rates (5.0% or higher). In December there was one state (Nevada 5.2%) that had a high unemployment rate.
IT hiring slows as national unemployment rate at 3.7%
First signs of a poor employment picture are appearing in the IT job market - Demand still high for experienced CIOs and CTOs in large enterprises
High Unemployment States
The highest unemployment states are those that have an overall unemployment rate of 4.5% or higher. In June there were three states (Nevada 5.4%, California 5.1% and Deleware 5.1%) that had an unemployment rate over 5%. Last month the unemployment rate in California moved up from 4.9% to 5.1%. These are preliminary indicators that the employment picture for IT Pros is not as rosey as it has been.
Six of the states had uneployment rates that were worse than last year at this same time.
States with the Lowest Unemployment -- Full Employment States
State unemployment rates are starting to show a degradation in the unemployment rate. At the start of the shutdown, there were 15 states with unemployment rates of less than 3.0%.
In November there were 17 states at full employment levels.
14 states are at full employment - 6 of these states had an increase in the unemployment rate from the prior month
All of the states that were at full employment levels have been there for 3 months with limited improvement.