The U.S. job market continues to show signs of steady improvement. According to the Bureau of Labor Statistics, 31 states reported a statistically significant reduction in unemployment in February 2022, and no states reported an increase.
Falling unemployment monthly unemployment in much of the country is the continuation of a longer term trend. In every state, the unemployment rate is lower now than it was the same time last year, by anywhere from 0.5 to 4.7 percentage points. These improvements are attributable in large part to job gains. It is important to note, however, that other factors, including a surge in early retirements are also contributing to lower jobless rates. Here is a look at the state where the most people are quitting their jobs.
Using data from the BLS, 24/7 Wall St. reviewed the February 2022 unemployment rate in each state. Depending on the state, monthly jobless rates range from 5.6% down to 2.1%. For context, the national unemployment rate stands at 3.8%.
For all but a handful of states, the COVID-19 pandemic pushed unemployment rates to all-time highs. For many of these states, economic fallout from the pandemic hit at a time when joblessness stood at historic lows.
Now, in most states, the unemployment rate is either at, or within a single percentage point, of its lowest level since the data series began in 1976. Here is a look at the states where job openings are surging.
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