Labor market is recovering well according to Janco
Eleven states have unemployment rates of 6% or less
Park City UT e-janco.com Several states have lowered their unemployment rates (See unemployment analysis). At the start of the shutdown there were 10 states with unemployment rates of 7.0% or less. In September there were 16 states with unemployment rates of 6% or less - an improving picture.
The CEO of Janco Associates, Inc., Mr. M. Victor Janulaitis said, "Highest unemployment states are those that had an overall unemployment rate of 10% or higher. In September, 8 states had the highest unemployment rates (9.0% or higher) - an improvement from August which had 10 states with unemployment over 10%. The highest unemployment rates in September were Hawaii (15.1%), New Mexico (12.6%), California (11.0%), Rhode Island (10.5%), Illinois (10.2%), North Dakota (9.7%), Maryland (9.6%), and North Carolina (9.4%). In those 8 states only one, Hawaii, did the unemployment picture did not improve in the past month." The CEO added, "In trouble cities, like Portland, companies are rethinking operations there all together. Also, many major companies are resuming existing operations slowly, but are holding back on any expansion until after the election."
Janulaitis said, "On the bright side, for the second time since the start of pandemic there was a net gain in the number of IT jobs. This despite the fact the BLS provided revised number downward for jobs lost by IT professionals by 2,600 for July and August. There is a net loss of jobs in the last 12 months coming from Computer Systems Design / Related Services and Telecommunications 44,200 and 25,600, respectively."
Janco is an international consulting firm that follows issues that concern CIOs and CFOs. The firm publishes a series of IT and business Infrastructure HandiGuides® and Templates including IT Infrastructure Policies and Procedures, Disaster Recovery/Business Continuity Template, Security Template, IT Job Descriptions, and its semi-annual IT Salary Survey.