OC’s unemployment rate inched up to 4.3% from September’s 4%.
Advertisement
Minutes of the Fed policy-setting committee’s October 27-28 meeting published on Wednesday showed officials rallied behind a possible December increase in the USA central bank’s benchmark overnight interest rate.
Texas’ seasonally adjusted unemployment rate increased to 4.4 percent in October, up from 4.2 percent in September, and remained below the national average of 5.0 percent.
IN tied with OH for the lowest unemployment rate in the Midwest for October. The largest over-the-month increases in employment occurred in California (+41,200), Florida (+35,200), and OH (+30,800).
“The trend in initial claims remains very encouraging”, said Ryan Sweet, a senior economist at Moody’s Analytics in West Chester, Pa, who accurately projected the decrease in claims.
The national report showed payrolls across the USA climbed by 271,000 in October, the strongest increase this year, following a gain of 137,000 the month before.
Private sector employers added 46,400 jobs in the first ten months of 2015, outpacing private sector gains for all of 2014 and 2013. Unemployment was unchanged in 15 states and increased in three states. It was down from 5.7 percent a year ago.
The highest rate was in rural Hendry County on the southwest side of Lake Okeechobee, despite an improvement from 11.6 percent in September to 9.4 percent in October.
North Dakota had the lowest jobless rate in the U.S.at 2.8 percent in October. “This is the lowest rate Kansas has recorded in more than 14 years”. All divisions except the Mountain had significant rate changes from a year earlier, all of which were declines. Still, that is below the roughly 3.5 percent that is typical of a healthy economy.
Texas’s job growth rate is 1.7 percent for the last 12 months vs. 3.6 percent for all of 2014. Highlands County and Putnam County were next at 6.9 percent.
Advertisement
The seasonally adjusted jobless rate ticked down 0.2 percentage points to 3.8 percent in October, according to the state labor department’s monthly household and employers surveys.
