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Uneven careers survey shows too little hiring  
By chloejohnson on Jul 27, 2013 10:29 AM
Fewer careers were added than hoped in May, according to Thursday's state careers report. The report, introduced by the Bureau of Labor Stats, continues to indicate slow, extraordinary financial growth across the country. Article source: State Jobs Reports


State by state stats



In the May state-by-state analysis, there were 18 states that did not see anything change in payroll. There were 14 states and D.C. that saw decreases in recorded payroll, but 27 stats actually saw a rise I payrolls. The national unemployment rate stayed at 8.2 percent for the month, but it actually increased in 18 states.


At 10.8 percent, California had the 3rd highest jobless rate in the nation. It did at 33,900 jobs in May, and it had the biggest payroll gains.


Ohio’s joblessness rate was below the national average at 7.3 percent and added 19,600 jobs to the economy. It had the second highest careers increase.


There was a rise in New Jersey’s joblessness rate to 9.2 percent regardless of being the state to get the third largest gains in jobs for May. It added over 17,500 careers for the month, which was its largest gain seen in seven years.


Not as much job progress as expected


While gains were seen regionally, overall, May saw the fewest job increases in a year.


New York BMP Paribas economist Bricklin Dwyer explained:


“The underlying pace of employment growth has softened.”



To be able to increase the consumer spending to grow the economy more quickly, more hiring is necessary. Experts think that consumer spending drives 70 percent of the economy.


Federal Reserve Chairman Ben Bernanke said last week:

“Will there be enough growth going forward to make material progress on the unemployment rate? That’s the essential decision and the central question that we have to look at.”



Across the nation, 69,000 jobs were added in May, down from the revised 77,000 documented in April.



State unemployment numbers



In South Carolina, there was a .3 percent increase in joblessness to 9.1 percent in May, which was the biggest jump. The next state was Michigan with a .2 percent jump to 8.5 percent.


The greatest drop in jobless numbers was posted by Massachusetts, shedding .3 percent from April's 6.3 percent rate. The next biggest jobless decline was seen in North Carolina, followed by Pennsylvania and Maryland


On the list, Nevada had the highest unemployment rate at 11.6 percent followed by Rhode Island with an 11 percent unemployment rate. The Nevada rate actually decreased from 11.7 percent, but that was not enough to keep it from being on top.



The lowest unemployment rate, for the third consecutive month, was North Dakota at an amazing 3 percent.


Federal Open Market Committee



Thursday's survey will almost certainly surely play in to the two-day meeting of The Federal Open Market Committee, scheduled to start on June 19. The group, which sets central bank policy, is sure to discuss weakening job progress also as the financial turmoil in Europe.



Sources


Washington Times

Bloomberg

Bureau of Labor Statistics
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