Unemployment at Record Lows in 17 States

Unemployment at Record Lows in 17 States The nation’s unemployment rate reached record lows in 17 states last month, mostly in the Midwest, South and Mountain West, plummeting to an all-time low of 1.9% in Nebraska. The numbers mark a sharp reversal from record unemployment in 15 of those states, which skyrocketed to 14.7% during COVID-19, its highest number since 1948. The figures suggest that the labor market, a pillar of the economy, is going strong in the face of recent stock volatility. Employers across the country are boosting wages to attract workers in a tight labor market, with average hourly earnings rising 5.5% from last year. (Source: WSJ)