NY State Unemployment Rate Drops to New Low

The over-the-year percentage decreases occurred in North Dakota (-2.1 percent), West Virginia (-1.8 percent), and Louisiana (-0.5 percent).

Arkansas’ unemployment rate was 5.1 percent in October, down one-tenth of a percentage point since September.

“October marks the fifth consecutive month that Arkansas’ unemployment rate has declined and the 23rd straight month that employment has increased”, Susan Price, the department’s BLS program operations manager, said in a news release. “The state-by-state employment trend is just the evidence the Fed needs to assure them that it is time to lift rates”.

Unemployment rates typically fall because of those out of work find jobs.

Nebraska’s unemployment rate remains under three percent. Private industries with the most job growth year over year were education and health services, up 5,655; financial activities, up 3,603; and other services, up 1,852.

“The declining unemployment rate is a positive indicator of continuing [economic] growth”, Mason said.

Duluth-Superior has gained 491 jobs so far this year. OH added 30,800 jobs last month, the third largest increase in October.

The unemployment rate tumbled below 4.5 percent in 21 states, including Texas, Colorado, and Virginia.

Montana’s seasonally adjusted labor force was almost 524,500 in October, with almost 503,000 employed.

The report was a rare piece of good economic news in several months for Gov. Sam Brownback, who has promised that his controversial tax policies would eventually spur economic growth in the state.