North Dakota had the lowest jobless rate in the U.S.at 2.8 percent in October.
Advertisement
The not seasonally adjusted unemployment rate in October was 3.7 percent, down from 3.8 percent in September and down from 3.9 percent one year ago.
Monroe County continues to have the lowest unemployment rate in the state at 3.4 percent with St. Johns County on the First Coast as the next lowest at 3.6 percent.
Englehart said he expects the monthly unemployment rate to hold steady through the end of the year, but then spike in January as people hired for seasonal holiday work lose their jobs.
When unemployment falls to such low levels, companies are typically forced to compete among a dwindling supply of those without jobs in order to hire. The increase was attributed to public school employment reaching full capacity.
The biggest job losses came in local government as well as professional and business service with both sectors reporting 1,100 fewer jobs than in September.
Over the past year, Oklahoma has lost 11,600 energy sector jobs, according to data released Friday by the Oklahoma Employment Security Commission. The bureau weighs unemployment filings during the 12th week of each month particularly prominently in its monthly unemployment calculations, so November’s unemployment rate is likely to show improvement – or at the very least remain at its seven-year low of 5 percent.
Advertisement
With Americans spending more on everything from restaurant meals and clothing to new cars, employers added an impressive 271,000 jobs last month. “Economists forecasted wage and salary growth of 33,800, and we’ve already seen growth of 41,700 through October alone*”. The McAllen-Edinburg-Mission area had the highest jobless rate in Texas at 7.4 percent. The construction industry added about 2,200 jobs over the month. It is down from 8.1 percent in December 2013, representing a 3.3 percentage point decrease in unemployment since Mayor de Blasio took office.
