|Month-over-Month Change in Employment: March 2010|
|Unemployment Rates: March 2010|
According to U.S. Bureau of Labor Statistics (BLS) data, the Sixth District lost 4,900 jobs in March from a month earlier (on a seasonally adjusted basis). In February the District gained 49,300 jobs. This number was revised up by roughly 12,000 largely due to revisions in Florida's payroll numbers. Tennessee added jobs for the third consecutive month; most of the additions came from the state's professional and business and manufacturing sectors.
Employment in both the District and the nation continued to improve on a year-over-year basis as the rate of job losses slowed. Nevertheless, March employment levels in the District and the nation are down 2.2 and 1.8 percent year-over-year, respectively.
|M/M change||Y/Y % change|
|Mar 2010||Feb 2010||Mar 2010||Feb 2010|
Payroll Employment Momentum
In March, employment momentum improved in half of the Sixth District states. Tennessee, Florida, and Louisiana began to move into Quadrant 4, reflecting improvements in short-term employment growth. Georgia, Alabama, and Mississippi remained in Quadrant 3, where both short- and long-term employment growth are negative.
The unemployment rate for the Sixth District remained at 11 percent, above the national rate of 9.7 percent (on a seasonally adjusted basis). Louisiana continues to be the only Sixth District state with an unemployment rate below the national average.
Average weekly initial claims in Florida and Georgia continued to decline in March, while claims increased slightly in Tennessee. Initial claims in Alabama, Louisiana, and Mississippi remained largely the same.
Average weekly continuing claims declined in Alabama, Florida, Georgia, and Tennessee in March. Continuing claims increased slightly in Louisiana and remained flat in Mississippi. Although continuing claims in District states have declined from their recessionary peaks, current levels remain elevated.