Labor Markets - August 2010

The rate of job losses continued to slow in July for both the District and the nation.

  • District payroll employment growth in July nearly reached year-earlier levels as job losses slowed for the eleventh consecutive month, according to the U.S. Bureau of Labor Statistics (BLS).

The Sixth District added 14,400 jobs in July.

  • According to the BLS, the only Sixth District state to lose jobs in July was Mississippi.
  • The District added 34,100 private sector jobs in July. Private payrolls in the District have shown positive growth for four consecutive months.

Payroll employment increased in July in all District states except Mississippi.

Source: BLS, FRBA

Employment momentum continued to improve in the Sixth District as more states moved toward Quadrant 1, indicating that both long- and short-term employment are expanding.

Explanation of employment momentum charts

Source: BLS, FRBA

The unemployment rate for the Sixth District decreased to 10.3 percent in July, above the national rate of 9.5 percent (on a seasonally adjusted basis).

Source: BLS, FRBA

  • The BLS reported that the unemployment rate declined in all Sixth District states except Florida and Louisiana.
  • Louisiana, however, remains the only District state with an unemployment rate below the national average.
  • Florida's rate of 11.5 percent continues to be the highest in the District and is among the highest in the nation.

Initial unemployment claims increased in most District states through mid-August.

  • A U.S. Department of Labor news release for the week ending August 7 noted that the large increase in initial claims in Florida was due to layoffs in construction, trade, service, and manufacturing industries.
  • A news release for the week ending August 14 noted a comparable decline in Florida's initial claims for all of these industries except manufacturing.

According to the U.S. Department of Labor, continuing claims increased across the District in early August.

  • On average, roughly 530,000 people were receiving regular unemployment benefits in the District during the four weeks ending August 7, about 10,000 less than the previous four weeks. These figures do not include emergency and extended benefits recipients.