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Data & Analysis

Labor Markets - June 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: May 2009
Month-over-Month Change in Employment
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Source: BLS

Explanation of chart
Payroll Employment Momentum: May 2009
Unemployment Rates
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Source: BLS, FRBA

Explanation of chart
Payroll Employment Momentum: April 2009
Unemployment Rates
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Source: BLS, FRBA

Excel logoData
Unemployment Rates
Unemployment Rates
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Source: BLS

Unemployment Rates: May 2009
Unemployment Rates
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Source: BLS

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

Labor Markets

June 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 85,100 jobs in May from a month earlier on a seasonally adjusted basis. Roughly 70 percent of this decline occurred in Florida. The state shed 61,000 jobs in May after adding 400 jobs in April. Florida's job losses were concentrated in the leisure and hospitality, professional and business, and education and health sectors. The construction sector, however, added jobs for the first time in three years. Job losses were widespread throughout the rest of the District. The nation as a whole lost 345,000 jobs in May.

April employment figures for the District were revised downward by 3,500 to –48,300.

Changes in Payroll Employment
  M/M absolute change   Y/Y % change  
  May
2009
April
2009
May
2009
April
2009
AL –2,700 –7,300 –4.7 –4.6
FL –61,000 400 –5.3 –4.9
GA –15,800 –21,900 –5.1 –4.8
LA –2,100 –6,500 –0.7 –0.4
MS –1,300 400 –3.3 –3.3
TN –2,200 –13,400 –4.7 –4.7
District   –85,100 –48,300 –4.6 –4.3
US –345,000 –504,000 –3.9 –3.7

Payroll Employment Momentum
Employment momentum deteriorated further for Louisiana in May with the state moving further down into Quadrant 3 and toward the position of most other District states. Short-term employment growth improved in Alabama and Mississippi as both states moved up toward Quadrant 4. Improvements in short-term employment growth reflect a decline in the pace of job losses in recent months. Long-term employment growth deteriorated slightly in Florida. Employment momentum held fairly steady for the remaining District states and the United States (less the Sixth District states).

Unemployment Rate
The overall unemployment rate for the Sixth District states increased to 9.8 percent in May, above the national rate of 9.4 percent (on a seasonally adjusted basis).

  May
  2009
April
2009
AL 9.8 9.0
FL 10.2 9.7
GA 9.7 9.2
LA 6.6 6.2
MS 9.6 9.1
TN 10.7 9.9
District   9.8 9.2
US 9.4 8.9

Unemployment Claims
Average weekly initial claims continued their downward trend in May for most parts of the District, reflecting a decline in the pace of layoffs. Georgia had an uptick in claims related to the auto industry in early May, but claims have declined since then. Although initial claims have come down from their recessionary peaks, the current levels still reflect a weak labor market. Average weekly continuing claims remained elevated in all District states but have declined from their peaks in all states except Louisiana.


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