The Bureau of Labor Statistics released revised state employment and unemployment data for July on August 25.
Interestingly, the BLS reported that nonfarm payroll in July fell in 29 states, but increased in 21, compared to the previous month. That perhaps feeds some hope that the economy has hit some kind of bottom, or at least, is close to it.
However, compared to a year ago, 49 of the 50 states had lower payrolls in July.
The only state that was up from July 2008 to July 2009? North Dakota.
It should be noted, though, that North Dakota’s nonfarm payrolls declined in July versus the previous month of June.
Raymond J. Keating
Chief Economist
Small Business & Entrepreneurship Council
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