The US payrolls increased in 39 states in the month of September, while the rate of unemployment dropped in 31, signaling towards improving broad-based labor market.
Texas held the top spot among other states with an impressive 36,400 increase in employment, followed by Illinois with 19,300 additional jobs, according to the Labor Department report that was released today in Washington. Colorado also showed gains in employment. Among the states that showed drop in employment included California, Pennsylvania and Virginia.
Meanwhile, the financial analysts said that the momentum in the US Labor Market is continuously improving because the country’s economic condition is reviving from the 2008 great recession and the current global slowdown.
They also added that there would be need of more job gains further for wage growth in order to accelerate the anemic pace, besides providing a lift to the consumer spending that accounts to 70 percent of the overall US economy.
Economist Sarah House, from North Carolina’s Wells Fargo Securities LLC in Charlotte, said, “Companies are finally pretty stretched and feeling a little bit better about the future of economic activity, so they’re more confident in hiring workers. There’s still a lot of variation among the nation, but generally speaking, the trend is pretty positive.”
Georgia witnessed the highest unemployment rate in the nation at 7.9 percent last month. North Dakota recorded the lowest jobless rate at 2.8 percent.
As far as the unemployment rate is concerned, it declined the most in Colorado and Kentucky, which showed dip of 0.4 percentage point.
Massachusetts and Vermont were the only states witnessing statistically remarkable rises in joblessness.