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Data & Analysis

Labor Markets - February 2009

Data Sources on the Web
U.S. Bureau of Labor Statistics (BLS)
U.S. Department of Labor
 
Excel logoData
Payroll Employment Growth
Payroll Employment Growth
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Source: BLS, FRBA

Excel logoData
Payroll Employment Growth by State
District Payroll Employment Growth
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Source: BLS, FRBA

Month-over-Month Change in Employment: December 2008
Month-over-Month Change in Employment
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Source: BLS

Explanation of chart
Payroll Employment Momentum: December 2008
Unemployment Rates
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Source: BLS, FRBA

Explanation of chart
Payroll Employment Momentum: November 2008
Unemployment Rates
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Source: BLS, FRBA

Excel logoData
Unemployment Rates
Unemployment Rates
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Source: BLS

Unemployment Rates: December 2008
Unemployment Rates
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Source: BLS

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Unemployment Claims
Initial and Continuing Unemployment Claims
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Source: U.S. Department of Labor
Data and Analysis

Labor Markets

February 2009

Payroll Employment
Payroll Employment Momentum
Unemployment Rate
Unemployment Claims

Payroll Employment
According to U.S. Bureau of Labor Statistics (BLS) data, the Sixth District states lost a net 80,000 jobs in December from a month earlier on a seasonally adjusted basis. This drop marked the eleventh consecutive month of job losses for the District. The nation as a whole lost 577,000 jobs in December.

Employment figures for the District in November were revised downward significantly from preliminary reports, from –98,200 to –143,300. All District states lost jobs in December except Louisiana, the only state in the nation to add jobs. District states as a whole lost a little over half a million jobs in 2008, half of which were lost in Florida alone. Florida shed 263,700 jobs in 2008, the second-highest job decline in the nation after California.

Changes in Payroll Employment
  M/M absolute change   Y/Y % change  
  Dec
2008
Nov
2008
Dec
 2008
Nov
 2008
AL –13,900 –18,400 –2.1 –1.3
FL –21,400 –76,200 –3.2 –2.8
GA –22,700 –30,400 –2.8 –2.2
LA 3,700 600 0.4 0.3
MS –7,800 –2,700 –2.3 –1.6
TN –17,900 –15,000 –2.3 –1.5
District   –80,000 –143,300 –2.5 –2.0
US –577,000 –597,000 –2.2 –1.7

Payroll Employment Momentum
Employment momentum for all Sixth District states, except Louisiana, as well as the United States (less the Sixth District states) deteriorated further in December. Louisiana gained some short-term momentum, which could be a result of the state regaining jobs lost during the September hurricanes.

Unemployment Rate
The overall unemployment rate for the Sixth District increased to 7.7 percent in December from 7.0 percent in November, above the national rate of 7.2 percent (on a seasonally adjusted basis). Note: The national unemployment rate rose to 7.6 percent for January; the Sixth District states' unemployment rates for January will be released March 11.

  Dec
  2008
Nov
  2008
AL 6.7 6.0
FL 8.1 7.4
GA 8.1 7.4
LA 5.9 5.3
MS 8.0 7.2
TN 7.9 7.0
District   7.7 7.0
US 7.2 6.8

Unemployment Claims
Districtwide initial claims remained high in January, consistent with the surge in layoff announcements across the nation. Continuing claims spiked in December, a clear indication that people who have lost their jobs are having difficulty finding new employment. In Alabama, continuing claims were up over 100 percent in December compared to a year earlier. Roughly one-third of these claims were in Alabama's manufacturing sector. Rising unemployment claims signal that future labor market growth will be weak.


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