Labor Markets - March 2010
According to U.S. Bureau of Labor Statistics (BLS) data, the Sixth District gained a net 36,900 jobs in February from a month earlier (on a seasonally adjusted basis). This gain was considerable compared with the upwardly revised 2,800 district jobs lost in January and the 36,000 jobs lost in the nation as a whole in February. Florida accounted for the majority of the District’s February job gains. Much of this increase came from Florida’s professional and business sector, particularly temporary hiring. Georgia was the only state in the district to shed jobs in February.
Employment in both the District and the nation improved on a year-over-year basis. Nevertheless, February employment levels in the District and the nation are down 2.9 and 2.5 percent year over year, respectively.
|M/M change||Y/Y % change|
Payroll Employment Momentum
In February, employment momentum improved only slightly in most Sixth District states and the United States (less the Sixth District states). All District states remained in Quadrant 3, where both short- and long-term employment growth are negative. Employment momentum improved most notably in Florida while, in contrast, Alabama and Georgia experienced declines in short-term job losses.
The unemployment rate for the Sixth District increased to 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 increased in Florida in late February and early March. Claims began to decline in Alabama, Tennessee, and Georgia and remained flat in Mississippi and Louisiana.
Average weekly continuing claims continued to decline in Florida and Georgia and flattened out in the other District states in February and early March. Although continuing claims in District states have declined from their recessionary peaks, current levels remain elevated.
- Data Sources
- Month-over-Month Change in Employment: February 2010
- Payroll Employment Growth by State
- Payroll Employment Momentum: February 2010
- Payroll Employment Momentum: January 2010
- Payroll Empoyment Growth
- Unemployment Rates
- Unemployment Rates: February 2010
- Weekly Continuing Unemployment Claims
- Weekly Initial Unemployment Claims
Month-over-Month Change in Employment: February 2010Source: BLS Data: labor_mkts_0310c.xls Chart: labor_mkts_0310c.jpg
Payroll Employment Growth by StateSource: BLS, FRBA Data: labor_mkts_0310b.xls Chart: labor_mkts_0310b.jpg
Payroll Employment Momentum: February 2010Source: BLS, FRBA Data: labor_mkts_0310d.xls Chart: labor_mkts_0310d.jpg showExplanation
Payroll Employment Momentum: January 2010Source: BLS, FRBA Data: labor_mkts_0310e.xls Chart: labor_mkts_0310e.jpg showExplanation
Payroll Empoyment GrowthSource: BLS, FRBA Data: labor_mkts_0310a.xls Chart: labor_mkts_0310a.jpg
Unemployment RatesSource: BLS Data: labor_mkts_0310f.xls Chart: labor_mkts_0310f.jpg showOnHome
Unemployment Rates: February 2010Source: BLS Data: labor_mkts_0310g.xls Chart: labor_mkts_0310g.jpg
Weekly Continuing Unemployment ClaimsSource: Source: U.S. Department of Labor Data: labor_mkts_0310i.xls Chart: labor_mkts_0310i.jpg
Weekly Initial Unemployment ClaimsSource: U.S. Department of Labor Data: labor_mkts_0310h.xls Chart: labor_mkts_0310h.jpg