u.s. congress joint economic committee understanding the economy: state-by-state snapshots november...

7/30/2019 U.S. Congress Joint Economic Committee Understanding the Economy: State-by-State Snapshots November 2012

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Prepared by the Chairmans Staff of the Joint Economic Committee

U.S. Congress Joint Economic Committee

Understanding the Economy: State-by-State Snapshots

TABLE OF CONTENTS

EXECUTIVE SUMMARY 1

STATE-BY-STATE SNAPSHOTS 3

Alabama 3Alaska 5Arizona 7Arkansas 9California 11

Colorado 13Connecticut 15Delaware 17District of Columbia 19Florida 21Georgia 23Hawaii 25Idaho 27Illinois 29Indiana 31Iowa 33Kansas 35

Kentucky 37Louisiana 39Maine 41Maryland 43Massachusetts 45Michigan 47Minnesota 49Mississippi 51Missouri 53Montana 55Nebraska 57Nevada 59New Hampshire 61New Jersey 63New Mexico 65New York 67North Carolina 69North Dakota 71Ohio 73Oklahoma 75Oregon 77


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Prepared by the Chairmans Staff of the Joint Economic Committee

Pennsylvania 79Rhode Island 81South Carolina 83South Dakota 85Tennessee 87Texas 89

Utah 91Vermont 93Virginia 95Washington 97West Virginia 99Wisconsin 101Wyoming 103

CHART OF NET JOB LOSS AND UNEMPLOYMENT RATEACROSS THE UNITED STATES 105

POST-9/11 AND TOTAL VETERANS' UNEMPLOYMENTRATES BY STATE 107

SOURCES 108


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Understanding the Economy: State-by-State Snapshots

Executive Summary

This is the 23rd edition of state-by-state snapshots issued by the Joint Economic Committee duringthe 112th Congress and includes state-level data through October 2012.

This months report shows that more than two out of three states gained private-sector jobs in

October. Nationally, private-sector job gains totaled 184,000 during the month, the largest gain

since February. Retail sales fell by 0.3 percent during October, as Superstorm Sandy may have kept

consumers away from stores in the Northeast at the end of the month. Manufacturing activity, as

measured by the ISM Manufacturing Index, expanded in October, the second straight month of

expansion.

Against this backdrop, this report highlights progress at the state level in creating private-sectorjobs and reducing unemployment and tracks the employment changes in key sectors, including

manufacturing and professional and business services.

Report highlights include:

Thirty-six states and the District of Columbia added private-sector jobs in October. California

(54,400) had the largest private-sector gains, followed by Texas (24,500) and Maryland (16,700). In

the past 12 months, 42 states and the District of Columbia gained private-sector jobs, with

California (333,100), Texas (269,000) and New York (131,900) recording the largest gains.

Connecticut, Delaware, Mississippi, New Mexico, Rhode Island, Wisconsin and West Virginia lost

private-sector positions during the last year while Maine experienced no change. From October

2011 October 2012, North Dakota (7.0 percent), Texas (3.1 percent) and Utah (2.9 percent) had

the largest percentage gains in private-sector employment. During this period, nearly 2.0 million

private-sector positions were added nationally.

Fourteen states had statistically significant decreases in the unemployment rate during October

and the remaining states and the District of Columbia did not have changes that were significant.

South Carolina (-0.5 percentage point) had the largest decline, followed by Alaska, Wisconsin, and

Louisiana (-0.4 point each). In the past 12 months, 18 states and the District of Columbia reported

statistically significant decreases in the unemployment rate, with Nevada (-1.9 percentage points)

recording the largest decline. The District of Columbia and Mississippi each recorded

unemployment rate declines of -1.8 percentage point from October 2011 to October 2012. Nevada

(11.5 percent) had the highest unemployment rate in October, followed by Rhode Island (10.4

percent) and California (10.1 percent). North Dakota again had the lowest unemployment rate (3.1

percent). The national unemployment rate during the month was 7.9 percent, down from 8.9

percent a year earlier.

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Manufacturing employment expanded in 25 states in October, as the nation added 13,000

manufacturing jobs during the month. Georgia added 4,500 manufacturing jobs, Indiana gained

3,100 and North Carolina saw a gain of 2,600. In the past 12 months, 32 states added

manufacturing positions, with the largest gains in the Midwest. Illinois (21,200), Indiana

(19,900), and Michigan and Washington (15,200 each) recorded the biggest gains in the pastyear. Overall, 189,000 manufacturing positions have been added across the country in the last

12 months.

Thirty-one states and the District of Columbia added jobs in the professional and business

services sector in October. California (9,000), Ohio (7,300) and Missouri (6,700) posted the

largest increases. In the past year, 40 states have added professional and business services

jobs, with California, New York and Texas recording the largest gains. During this period,

525,000 jobs were added in the professional and business services sector.

Thirty-four states added jobs in the leisure and hospitality sector during October. Texas(8,700), New York (6,800) and Indiana (5,200) saw the largest gains. In the past 12 months, 44

states added leisure and hospitality jobs. During this time, leisure and hospitality employment

increased by 340,000 positions.

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Economic Overview And Outlook: Alabama

Jobs

Employment

Earnings

Housing

Prepared by the Chairman's Staff of the Joint Economic Committee

Including October, the private sector has gained jobs nationwide for 32 consecutive months.

Within the South census region, which includes Alabama, sales of new single-family homes totaled 215,000 units inSeptember 2012, an increase of 16.8 percent from August. Sales of existing single-family homes increased 1.8 percent to1,660,000 units (at seasonally adjusted annual rates) from September to October 2012.

* For Alabama-specific labor sector statistics, please refer to the Alabama office: http://www2.dir.state.al.us/

In Alabama, initial claims for unemploymentinsurance benefits totaled 21,358 duringOctober, down 12.2 percent from theprevious month. Since peaking at 51,448in December 2008, initial claims forunemployment insurance benefits havedeclined by 58.5 percent.

As the economy continues its emergence from the Great Recession, service-providing industries are projected to add themost jobs between 2010 and 2020. The largest gains over this period are expected to occur in the healthcare and socialassistance, professional and business services, and retail trade sectors. Job gains in the goods-producing sector of theeconomy will be led by the construction and mining industries while the number of manufacturing jobs is expected to fall.

In Alabama, private sector employment fell by 9.5 percent from January 2008 to February 2010. Since February 2010,private sector employment has grown by 2.6 percent.

In Alabama, employees in the construction, information services, and professional and business services sectors faced thelargest job losses (as a percent of employment within an industry) over the recession. Since the beginning of 2010, thefollowing sectors in Alabama have experienced the greatest employment increases: professional and business services;other services; and mining.*

The unemployment rate in Alabama was8.1 percent in October 2012, up 4.4percentage points from December 2007,but down from its most recent peak of 10.6

percent in December 2009.175,000 residents were counted among theunemployed in Alabama during October2012.

Between the start of the recession in the

4th quarter of 2007 and the 3rd quarter of2009, inflation-adjusted total personalincome in the United States declined 4.6percent. Most recently, in the 2nd quarterof 2012, total personal income is 1.9percent above its 4th quarter of 2007 level.

Real per capita personal income (in 2005 $) in Alabama was $30,828.40 in the 2nd quarter of 2012, up from $30,356.10 inthe 2nd quarter of 2010.

After peaking in the first quarter of 2007, national home prices have declined by 17.5 percent.

As of the 3rd quarter of 2012, 1.9 percent of all mortgages, including 5.6 percent of subprime mortgages, were in foreclosurein Alabama.

Housing starts in Alabama totaled 9,830 units (seasonally adjusted annual rate) in September 2012, a decrease of 12.9percent from August.

In Alabama, home prices have fallen by 9.3 percent over 13 quarters from their peak in the first quarter of 2009.

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Source: Bureau of Labor Statistics, Establishment Survey.

Alabama Monthly Change in Private Payrolls

January 2008 - October 2012


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How Does Alabama Compare To Other States?

State Quick Facts

Alabama United States

Unemployment Rates October 2009 10.6% 10.0%

October 2010 9.2% 9.5%

October 2011 8.5% 8.9%

October 2012 8.1% 7.9%

Percent of Population Who Are Veterans 2011 10.3% 9.4%

All Veterans' Unemployment Rate 2011 6.0% 8.3%

Post-9/11 Veterans' Unemployment Rate. 2011 11.0% 12.1%

Median Household Income 2007 45,789$ 54,489$

(2011 $) 2011 42,590$ 50,054$

Poverty Rate 2007 14.5% 12.5%

2011 15.4% 15.0%

No Health Insurance 2007 11.7% 14.7%

2011 13.0% 15.7%


The current unemployment rate (measured along the horizontal axis) serves as a gauge of current labor marketconditions faced by residents, while the proportion of jobs lost within Alabama since the start of the recession

(shown along the vertical axis) measures the toll the recession took on the job supply in Alabama.

States falling in the upper right quadrant have lost a disproportionate share of jobs, relative to the total UnitedStates, and have unemployment rates higher than the national unemployment rate. States falling in the lower leftquadrant are experiencing lower unemployment rates and smaller job losses than the national average.

Workers across the country were hard hit during the Great Recession. Although labor markets in many states havestarted recovering, employment in most states still remains below pre-recession levels. The chart below allows youto compare Alabama to other states using two metrics.

United States

Alabama

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NetJob

LossSince

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Recessio

n

Began

Current Unemployment Rate

Unemployment rate below national rate;

Job losses smaller than US total


Job losses larger than US total

Unemployment rate above national rate;




United States:

7.9% Unemployment; Job losses totaling 3.1%

Alabama:



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Economic Overview And Outlook: Alaska

Jobs

Employment

Earnings

Housing



Within the West census region, which includes Alaska, sales of new single-family homes totaled 107,000 units in September2012, an increase of 3.9 percent from August. Sales of existing single-family homes increased 4.0 percent to 1,050,000units (at seasonally adjusted annual rates) from September to October 2012.

* For Alaska-specific labor sector statistics, please refer to the Alaska office: http://almis.labor.state.ak.us/

In Alaska, initial claims for unemploymentinsurance benefits totaled 6,013 duringOctober, down 8.6 percent from theprevious month. Since peaking at 9,245 in

April 2010, initial claims for unemploymentinsurance benefits have declined by 35.0percent.


In Alaska, private sector employment fell by 0.8 percent from January 2008 to February 2010. Since February 2010, privatesector employment has grown by 2.8 percent.

In Alaska, employees in the construction, manufacturing, and information services sectors faced the largest job losses (as apercent of employment within an industry) over the recession. Since the beginning of 2010, the following sectors in Alaskahave experienced the greatest employment increases: education and health services; mining; and professional andbusiness services.*

The unemployment rate in Alaska was 7.1percent in October 2012, up 0.9 percentage

point from December 2007, but down fromits most recent peak of 8.2 percent inJanuary 2010.

26,000 residents were counted among theunemployed in Alaska during October2012.

Between the start of the recession in the4th quarter of 2007 and the 3rd quarter of2009, inflation-adjusted total personalincome in the United States declined 4.6percent. Most recently, in the 2nd quarterof 2012, total personal income is 1.9percent above its 4th quarter of 2007 level.

Real per capita personal income (in 2005 $) in Alaska was $40,592.10 in the 2nd quarter of 2012, up from $39,421.10 in the2nd quarter of 2010.


As of the 3rd quarter of 2012, 1.2 percent of all mortgages, including 3.2 percent of subprime mortgages, were in foreclosurein Alaska.

Housing starts in Alaska totaled 1,650 units (seasonally adjusted annual rate) in September 2012, an increase of 114.3percent from August.

In Alaska, home prices fell by 3.2 percent over 11 quarters from their peak in the second quarter of 2007. Since the first

quarter of 2010, home prices in Alaska have risen by 2.5 percent.

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How Does Alaska Compare To Other States?

State Quick Facts

Alaska United States


October 2010 7.9% 9.5%

October 2011 7.5% 8.9%

October 2012 7.1% 7.9%





(2011 $) 2011 57,431$ 50,054$

Poverty Rate 2007 7.6% 12.5%

2011 11.7% 15.0%


2011 18.2% 15.7%


The current unemployment rate (measured along the horizontal axis) serves as a gauge of current labor marketconditions faced by residents, while the proportion of jobs lost within Alaska since the start of the recession (shown

along the vertical axis) measures the toll the recession took on the job supply in Alaska.


Workers across the country were hard hit during the Great Recession. Although labor markets in many states havestarted recovering, employment in most states still remains below pre-recession levels. The chart below allows youto compare Alaska to other states using two metrics.

United States

Alaska

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NetJob

LossSince

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Recessio

n

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United States:


Alaska:

7.1% Unemployment; Job gains totaling 2.8%


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Economic Overview And Outlook: Arizona

Jobs

Employment

Earnings

Housing



Within the West census region, which includes Arizona, sales of new single-family homes totaled 107,000 units inSeptember 2012, an increase of 3.9 percent from August. Sales of existing single-family homes increased 4.0 percent to1,050,000 units (at seasonally adjusted annual rates) from September to October 2012.

* For Arizona-specific labor sector statistics, please refer to the Arizona office: http://www.workforce.az.gov/

In Arizona, initial claims for unemploymentinsurance benefits totaled 22,621 duringOctober, up 11.6 percent from the previousmonth. Since peaking at 42,095 in February2009, initial claims for unemploymentinsurance benefits have declined by 46.3percent.


In Arizona, private sector employment fell by 12.5 percent from January 2008 to February 2010. Since February 2010,private sector employment has grown by 4.4 percent.

In Arizona, employees in the construction, mining, and manufacturing sectors faced the largest job losses (as a percent ofemployment within an industry) over the recession. Since the beginning of 2010, the following sectors in Arizona haveexperienced the greatest employment increases: education and health services; mining; and leisure and hospitality.*

The unemployment rate in Arizona was 8.1percent in October 2012, up 4.0 percentagepoints from December 2007, but down from

its most recent peak of 10.8 percent inMarch 2010.

244,000 residents were counted among theunemployed in Arizona during October2012.


Real per capita personal income (in 2005 $) in Arizona was $31,102.90 in the 2nd quarter of 2012, up from $30,481.60 in the2nd quarter of 2010.


As of the 3rd quarter of 2012, 2.5 percent of all mortgages, including 6.2 percent of subprime mortgages, were in foreclosurein Arizona.

Housing starts in Arizona totaled 20,660 units (seasonally adjusted annual rate) in September 2012, an increase of 2.1percent from August.

In Arizona, home prices fell by 45.1 percent over 18 quarters from their peak in the fourth quarter of 2006. Since the secondquarter of 2011, home prices in Arizona have risen by 2.7 percent.

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How Does Arizona Compare To Other States?

State Quick Facts

Arizona United States


October 2010 10.2% 9.5%

October 2011 9.2% 8.9%

October 2012 8.1% 7.9%





(2011 $) 2011 48,621$ 50,054$

Poverty Rate 2007 14.3% 12.5%

2011 17.2% 15.0%


2011 17.3% 15.7%


The current unemployment rate (measured along the horizontal axis) serves as a gauge of current labor marketconditions faced by residents, while the proportion of jobs lost within Arizona since the start of the recession (shown

along the vertical axis) measures the toll the recession took on the job supply in Arizona.


Workers across the country were hard hit during the Great Recession. Although labor markets in many states havestarted recovering, employment in most states still remains below pre-recession levels. The chart below allows youto compare Arizona to other states using two metrics.

United States

Arizona

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NetJob

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n

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United States:


Arizona:



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Economic Overview And Outlook: Arkansas

Jobs

Employment

Earnings

Housing



Within the South census region, which includes Arkansas, sales of new single-family homes totaled 215,000 units inSeptember 2012, an increase of 16.8 percent from August. Sales of existing single-family homes increased 1.8 percent to1,660,000 units (at seasonally adjusted annual rates) from September to October 2012.

* For Arkansas-specific labor sector statistics, please refer to the Arkansas office: http://www.discoverarkansas.net/

In Arkansas, initial claims forunemployment insurance benefits totaled15,482 during October, down 6.8 percentfrom the previous month. Since peaking at37,251 in February 2009, initial claims forunemployment insurance benefits havedeclined by 58.4 percent.


In Arkansas, private sector employment fell by 6.1 percent from January 2008 to February 2010. Since February 2010,private sector employment has grown by 1.3 percent.

In Arkansas, employees in the manufacturing, construction, and information services sectors faced the largest job losses (asa percent of employment within an industry) over the recession. Since the beginning of 2010, the following sectors in

Arkansas have experienced the greatest employment increases: mining; leisure and hospitality; and education and healthservices.*

The unemployment rate in Arkansas was7.2 percent in October 2012, up 2.1

percentage points from December 2007,but down from its most recent peak of 8.2percent in July 2011.

98,000 residents were counted among theunemployed in Arkansas during October2012.


Real per capita personal income (in 2005 $) in Arkansas was $29,838.00 in the 2nd quarter of 2012, up from $29,181.40 inthe 2nd quarter of 2010.


As of the 3rd quarter of 2012, 2.2 percent of all mortgages, including 7.3 percent of subprime mortgages, were in foreclosurein Arkansas.

Housing starts in Arkansas totaled 12,350 units (seasonally adjusted annual rate) in September 2012, an increase of 40.7percent from August.

In Arkansas, home prices have fallen by 6.4 percent over 13 quarters from their peak in the first quarter of 2009.

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How Does Arkansas Compare To Other States?

State Quick Facts

Arkansas United States


October 2010 8.0% 9.5%

October 2011 8.0% 8.9%

October 2012 7.2% 7.9%





(2011 $) 2011 41,302$ 50,054$

Poverty Rate 2007 13.8% 12.5%

2011 18.7% 15.0%


2011 17.5% 15.7%


The current unemployment rate (measured along the horizontal axis) serves as a gauge of current labor marketconditions faced by residents, while the proportion of jobs lost within Arkansas since the start of the recession

(shown along the vertical axis) measures the toll the recession took on the job supply in Arkansas.


Workers across the country were hard hit during the Great Recession. Although labor markets in many states havestarted recovering, employment in most states still remains below pre-recession levels. The chart below allows youto compare Arkansas to other states using two metrics.

United StatesArkansas

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NetJob

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n

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United States:


Arkansas:



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Economic Overview And Outlook: California

Jobs

Employment

Earnings

Housing



Within the West census region, which includes California, sales of new single-family homes totaled 107,000 units inSeptember 2012, an increase of 3.9 percent from August. Sales of existing single-family homes increased 4.0 percent to1,050,000 units (at seasonally adjusted annual rates) from September to October 2012.

* For California-specific labor sector statistics, please refer to the California office: http://www.labormarketinfo.edd.ca.gov/

In California, initial claims forunemployment insurance benefits totaled238,468 during October, down 2.7 percentfrom the previous month. Since peaking at344,438 in January 2010, initial claims forunemployment insurance benefits havedeclined by 30.8 percent.


In California, private sector employment fell by 9.8 percent from January 2008 to February 2010. Since February 2010,private sector employment has grown by 5.7 percent.

In California, employees in the construction, manufacturing, and financial activities sectors faced the largest job losses (as apercent of employment within an industry) over the recession. Since the beginning of 2010, the following sectors inCalifornia have experienced the greatest employment increases: mining; professional and business services; and leisureand hospitality.*

The unemployment rate in California was10.1 percent in October 2012, up 4.3

percentage points from December 2007,but down from its most recent peak of 12.4percent in October 2010.

1,848,000 residents were counted amongthe unemployed in California duringOctober 2012.


Real per capita personal income (in 2005 $) in California was $38,837.40 in the 2nd quarter of 2012, up from $37,732.70 inthe 2nd quarter of 2010.


As of the 3rd quarter of 2012, 2.6 percent of all mortgages, including 7.5 percent of subprime mortgages, were in foreclosurein California.

Housing starts in California totaled 67,870 units (seasonally adjusted annual rate) in September 2012, an increase of 45.6percent from August.

In California, home prices have fallen by 38.8 percent over 23 quarters from their peak in the third quarter of 2006.

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How Does California Compare To Other States?

State Quick Facts

California United States


October 2010 12.4% 9.5%

October 2011 11.5% 8.9%

October 2012 10.1% 7.9%





(2011 $) 2011 53,367$ 50,054$

Poverty Rate 2007 12.7% 12.5%

2011 16.9% 15.0%


2011 19.7% 15.7%


The current unemployment rate (measured along the horizontal axis) serves as a gauge of current labor marketconditions faced by residents, while the proportion of jobs lost within California since the start of the recession

(shown along the vertical axis) measures the toll the recession took on the job supply in California.


Workers across the country were hard hit during the Great Recession. Although labor markets in many states havestarted recovering, employment in most states still remains below pre-recession levels. The chart below allows youto compare California to other states using two metrics.

United States

California

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NetJob

LossSince

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Recessio

n

Began










United States:


California:



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Economic Overview And Outlook: Colorado

Jobs

Employment

Earnings

Housing



Within the West census region, which includes Colorado, sales of new single-family homes totaled 107,000 units inSeptember 2012, an increase of 3.9 percent from August. Sales of existing single-family homes increased 4.0 percent to1,050,000 units (at seasonally adjusted annual rates) from September to October 2012.

* For Colorado-specific labor sector statistics, please refer to the Colorado office:

http://lmigateway.coworkforce.com/lmigateway/gsipub/index.asp?docid=363

In Colorado, initial claims for unemploymentinsurance benefits totaled 14,374 duringOctober, down 0.6 percent from theprevious month. Since peaking at 25,007in March 2009, initial claims forunemployment insurance benefits havedeclined by 42.5 percent.


In Colorado, private sector employment fell by 7.7 percent from January 2008 to February 2010. Since February 2010,private sector employment has grown by 5.0 percent.

In Colorado, employees in the construction, manufacturing, and mining sectors faced the largest job losses (as a percent ofemployment within an industry) over the recession. Since the beginning of 2010, the following sectors in Colorado haveexperienced the greatest employment increases: mining; education and health services; and professional and businessservices.*

The unemployment rate in Colorado was7.9 percent in October 2012, up 3.8

percentage points from December 2007,but down from its most recent peak of 9.0percent in November 2010.

214,000 residents were counted among theunemployed in Colorado during October2012.


Real per capita personal income (in 2005 $) in Colorado was $38,865.50 in the 2nd quarter of 2012, up from $37,797.80 inthe 2nd quarter of 2010.


As of the 3rd quarter of 2012, 1.7 percent of all mortgages, including 5.2 percent of subprime mortgages, were in foreclosurein Colorado.

Housing starts in Colorado totaled 19,270 units (seasonally adjusted annual rate) in September 2012, a decrease of 22.5percent from August.

In Colorado, home prices fell by 8.7 percent over 13 quarters from their peak in the first quarter of 2008. Since the second

quarter of 2011, home prices in Colorado have risen by 1.4 percent.

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How Does Colorado Compare To Other States?

State Quick Facts

Colorado United States


October 2010 9.0% 9.5%

October 2011 8.1% 8.9%

October 2012 7.9% 7.9%





(2011 $) 2011 58,629$ 50,054$

Poverty Rate 2007 9.8% 12.5%

2011 13.2% 15.0%


2011 15.7% 15.7%


The current unemployment rate (measured along the horizontal axis) serves as a gauge of current labor marketconditions faced by residents, while the proportion of jobs lost within Colorado since the start of the recession

(shown along the vertical axis) measures the toll the recession took on the job supply in Colorado.


Workers across the country were hard hit during the Great Recession. Although labor markets in many states havestarted recovering, employment in most states still remains below pre-recession levels. The chart below allows youto compare Colorado to other states using two metrics.

United StatesColorado

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NetJob

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n

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United States:


Colorado:



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Economic Overview And Outlook: Connecticut

Jobs

Employment

Earnings

Housing



Within the Northeast census region, which includes Connecticut, sales of new single-family homes totaled 35,000 units inSeptember 2012, an increase of 16.7 percent from August. Sales of existing single-family homes decreased 2.1 percent to470,000 units (at seasonally adjusted annual rates) from September to October 2012.

* For Connecticut-specific labor sector statistics, please refer to the Connecticut office: http://www1.ctdol.state.ct.us/lmi/

In Connecticut, initial claims forunemployment insurance benefits totaled20,920 during October, up 4.0 percent fromthe previous month. Since peaking at38,259 in November 2011, initial claims forunemployment insurance benefits havedeclined by 45.3 percent.


In Connecticut, private sector employment fell by 7.5 percent from January 2008 to February 2010. Since February 2010,private sector employment has grown by 3.1 percent.

In Connecticut, employees in the construction, professional and business services, and manufacturing sectors faced thelargest job losses (as a percent of employment within an industry) over the recession. Since the beginning of 2010, thefollowing sectors in Connecticut have experienced the greatest employment increases: education and health services;leisure and hospitality; and professional and business services.*

The unemployment rate in Connecticut was9.0 percent in October 2012, up 4.1

percentage points from December 2007,but down from its most recent peak of 9.4percent in December 2010.

171,000 residents were counted among theunemployed in Connecticut during October2012.


Real per capita personal income (in 2005 $) in Connecticut was $51,180.10 in the 2nd quarter of 2012, up from $50,015.20in the 2nd quarter of 2010.


As of the 3rd quarter of 2012, 5.4 percent of all mortgages, including 17.2 percent of subprime mortgages, were inforeclosure in Connecticut.

Housing starts in Connecticut totaled 4,690 units (seasonally adjusted annual rate) in September 2012, a decrease of 24.7percent from August.

In Connecticut, home prices have fallen by 17.4 percent over 21 quarters from their peak in the first quarter of 2007.

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How Does Connecticut Compare To Other States?

State Quick Facts

Connecticut United States


October 2010 9.4% 9.5%

October 2011 8.5% 8.9%

October 2012 9.0% 7.9%





(2011 $) 2011 65,415$ 50,054$

Poverty Rate 2007 8.9% 12.5%

2011 10.1% 15.0%


2011 8.6% 15.7%


The current unemployment rate (measured along the horizontal axis) serves as a gauge of current labor marketconditions faced by residents, while the proportion of jobs lost within Connecticut since the start of the recession

(shown along the vertical axis) measures the toll the recession took on the job supply in Connecticut.


Workers across the country were hard hit during the Great Recession. Although labor markets in many states havestarted recovering, employment in most states still remains below pre-recession levels. The chart below allows youto compare Connecticut to other states using two metrics.

United States

Connecticut

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Economic Overview And Outlook: Delaware

Jobs

Employment

Earnings

Housing



Within the South census region, which includes Delaware, sales of new single-family homes totaled 215,000 units inSeptember 2012, an increase of 16.8 percent from August. Sales of existing single-family homes increased 1.8 percent to1,660,000 units (at seasonally adjusted annual rates) from September to October 2012.

* For Delaware-specific labor sector statistics, please refer to the Delaware office:

http://www.delawareworks.com/oolmi/Information/Publications.aspx

In Delaware, initial claims forunemployment insurance benefits totaled3,714 during October, down 14.0 percentfrom the previous month. Since peaking at7,929 in February 2007, initial claims forunemployment insurance benefits havedeclined by 53.2 percent.


In Delaware, private sector employment fell by 8.9 percent from January 2008 to February 2010. Since February 2010,private sector employment has grown by 2.4 percent.

In Delaware, employees in the natural resources, mining, construction, trade, transportation and utilities, and professionaland business services sectors faced the largest job losses (as a percent of employment within an industry) over therecession. Since the beginning of 2010, the following sectors in Delaware have experienced the greatest employmentincreases: leisure and hospitality; education and health services; and financial activities.*

The unemployment rate in Delaware was6.8 percent in October 2012, up 3.0

percentage points from December 2007,but down from its most recent peak of 8.5percent in January 2010.

30,000 residents were counted among theunemployed in Delaware during October2012.


Real per capita personal income (in 2005 $) in Delaware was $36,419.40 in the 2nd quarter of 2012, up from $35,351.20 inthe 2nd quarter of 2010.


As of the 3rd quarter of 2012, 3.4 percent of all mortgages, including 11.7 percent of subprime mortgages, were inforeclosure in Delaware.

Housing starts in Delaware totaled 4,360 units (seasonally adjusted annual rate) in September 2012, an increase of 37.5percent from August.

In Delaware, home prices have fallen by 19.7 percent over 20 quarters from their peak in the second quarter of 2007.

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How Does Delaware Compare To Other States?

State Quick Facts

Delaware United States


October 2010 7.8% 9.5%

October 2011 7.3% 8.9%

October 2012 6.8% 7.9%





(2011 $) 2011 54,660$ 50,054$

Poverty Rate 2007 9.3% 12.5%

2011 13.7% 15.0%


2011 10.0% 15.7%


The current unemployment rate (measured along the horizontal axis) serves as a gauge of current labor marketconditions faced by residents, while the proportion of jobs lost within Delaware since the start of the recession

(shown along the vertical axis) measures the toll the recession took on the job supply in Delaware.


Workers across the country were hard hit during the Great Recession. Although labor markets in many states havestarted recovering, employment in most states still remains below pre-recession levels. The chart below allows youto compare Delaware to other states using two metrics.

United States

Delaware

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Economic Overview And Outlook: The District Of Columbia

Jobs

Employment

Earnings

Housing



Within the South census region, which includes the District of Columbia, sales of new single-family homes totaled 215,000units in September 2012, an increase of 16.8 percent from August. Sales of existing single-family homes increased 1.8percent to 1,660,000 units (at seasonally adjusted annual rates) from September to October 2012.

* For District of Columbia-specific labor sector statistics, please refer to the District of Columbia office:

http://www.does.dc.gov/does/cwp/view,a,1233,q,538030.asp

In the District of Columbia, initial claims forunemployment insurance benefits totaled1,625 during October, up 261.9 percentfrom the previous month. Since peaking at2,573 in February 2009, initial claims forunemployment insurance benefits havedeclined by 36.8 percent.


In the District of Columbia, private sector employment fell by 1.5 percent from January 2008 to February 2010. SinceFebruary 2010, private sector employment has grown by 7.4 percent.

In the District of Columbia, employees in the information services, financial activities, and natural resources, mining,construction sectors faced the largest job losses (as a percent of employment within an industry) over the recession. Sincethe beginning of 2010, the following sectors in the District of Columbia have experienced the greatest employmentincreases: natural resources, mining, and construction; education and health services; and other services.*

The unemployment rate in the District ofColumbia was 8.5 percent in October 2012,

up 2.9 percentage points from December2007, but down from its most recent peakof 10.5 percent in August 2011.

31,000 residents were counted among theunemployed in District of Columbia duringOctober 2012.


Real per capita personal income (in 2005 $) in the District of Columbia was $64,863.70 in the 2nd quarter of 2012, up from$64,325.60 in the 2nd quarter of 2010.


As of the 3rd quarter of 2012, 2.7 percent of all mortgages, including 9.5 percent of subprime mortgages, were in foreclosurein the District of Columbia.

Housing starts in the District of Columbia totaled 5,010 units (seasonally adjusted annual rate) in September 2012, anincrease of 1.6 percent from August.

In District of Columbia, home prices fell by 11.3 percent over 10 quarters from their peak in the first quarter of 2007. Since

the third quarter of 2009, home prices in District of Columbia have risen by 5.0 percent.

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How Does The District Of Columbia Compare To The States?

District Quick Facts

District of Columbia United States


October 2010 10.1% 9.5%

October 2011 10.3% 8.9%

October 2012 8.5% 7.9%





(2011 $) 2011 55,251$ 50,054$

Poverty Rate 2007 18.0% 12.5%

2011 19.9% 15.0%


2011 8.4% 15.7%


The current unemployment rate (measured along the horizontal axis) serves as a gauge of current labor marketconditions faced by residents, while the proportion of jobs lost within the District of Columbia since the start of therecession (shown along the vertical axis) measures the toll the recession took on the job supply in the District of

Columbia.


Workers across the country were hard hit during the Great Recession. Although labor markets in many states havestarted recovering, employment in most states still remains below pre-recession levels. The chart below allows youto compare the District of Columbia to the states using two metrics.

United States

District of Columbia

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NetJob

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District of Columbia:

8.5% Unemployment; Job gains totaling 5.6%


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Economic Overview And Outlook: Florida

Jobs

Employment

Earnings

Housing



Within the South census region, which includes Florida, sales of new single-family homes totaled 215,000 units inSeptember 2012, an increase of 16.8 percent from August. Sales of existing single-family homes increased 1.8 percent to1,660,000 units (at seasonally adjusted annual rates) from September to October 2012.

* For Florida-specific labor sector statistics, please refer to the Florida office: http://www.labormarketinfo.com/

In Florida, initial claims for unemploymentinsurance benefits totaled 61,129 duringOctober, down 5.6 percent from theprevious month. Since peaking at 121,442in January 2009, initial claims forunemployment insurance benefits havedeclined by 49.7 percent.


In Florida, private sector employment fell by 10.9 percent from January 2008 to February 2010. Since February 2010,private sector employment has grown by 4.0 percent.

In Florida, employees in the construction, manufacturing, and professional and business services sectors faced the largestjob losses (as a percent of employment within an industry) over the recession. Since the beginning of 2010, the followingsectors in Florida have experienced the greatest employment increases: professional and business services; leisure andhospitality; and education and health services.*

The unemployment rate in Florida was 8.5percent in October 2012, up 3.8 percentage

points from December 2007, but down fromits most recent peak of 11.4 percent inFebruary 2010.

790,000 residents were counted among theunemployed in Florida during October2012.


Real per capita personal income (in 2005 $) in Florida was $35,009.00 in the 2nd quarter of 2012, up from $34,512.50 in the2nd quarter of 2010.


As of the 3rd quarter of 2012, 13.0 percent of all mortgages, including 27.4 percent of subprime mortgages, were inforeclosure in Florida.

Housing starts in Florida totaled 103,290 units (seasonally adjusted annual rate) in September 2012, an increase of 74.9percent from August.

In Florida, home prices have fallen by 43.6 percent over 22 quarters from their peak in the fourth quarter of 2006.

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How Does Florida Compare To Other States?

State Quick Facts

Florida United States


October 2010 11.3% 9.5%

October 2011 10.2% 8.9%

October 2012 8.5% 7.9%





(2011 $) 2011 45,105$ 50,054$

Poverty Rate 2007 12.5% 12.5%

2011 14.9% 15.0%


2011 19.8% 15.7%


The current unemployment rate (measured along the horizontal axis) serves as a gauge of current labor marketconditions faced by residents, while the proportion of jobs lost within Florida since the start of the recession (shown

along the vertical axis) measures the toll the recession took on the job supply in Florida.


Workers across the country were hard hit during the Great Recession. Although labor markets in many states havestarted recovering, employment in most states still remains below pre-recession levels. The chart below allows youto compare Florida to other states using two metrics.

United States

Florida

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Economic Overview And Outlook: Georgia

Jobs

Employment

Earnings

Housing



Within the South census region, which includes Georgia, sales of new single-family homes totaled 215,000 units inSeptember 2012, an increase of 16.8 percent from August. Sales of existing single-family homes increased 1.8 percent to1,660,000 units (at seasonally adjusted annual rates) from September to October 2012.

* For Georgia-specific labor sector statistics, please refer to the Georgia office: http://explorer.dol.state.ga.us/

In Georgia, initial claims for unemploymentinsurance benefits totaled 50,715 duringOctober, up 0.2 percent from the previousmonth. Since peaking at 103,264 in March2009, initial claims for unemploymentinsurance benefits have declined by 50.9percent.


In Georgia, private sector employment fell by 9.6 percent from January 2008 to February 2010. Since February 2010,private sector employment has grown by 4.8 percent.

In Georgia, employees in the construction, manufacturing, and professional and business services sectors faced the largestjob losses (as a percent of employment within an industry) over the recession. Since the beginning of 2010, the followingsectors in Georgia have experienced the greatest employment increases: professional and business services; educationand health services; and manufacturing.*

The unemployment rate in Georgia was 8.7percent in October 2012, up 3.6 percentage

points from December 2007, but down fromits most recent peak of 10.5 percent inJanuary 2010.

419,000 residents were counted among theunemployed in Georgia during October2012.


Real per capita personal income (in 2005 $) in Georgia was $31,865.20 in the 2nd quarter of 2012, up from $31,070.50 inthe 2nd quarter of 2010.


As of the 3rd quarter of 2012, 2.8 percent of all mortgages, including 7.0 percent of subprime mortgages, were in foreclosurein Georgia.

Housing starts in Georgia totaled 26,760 units (seasonally adjusted annual rate) in September 2012, an increase of 42.8percent from August.

In Georgia, home prices have fallen by 23.2 percent over 17 quarters from their peak in the first quarter of 2008.

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How Does Georgia Compare To Other States?

State Quick Facts

Georgia United States


October 2010 10.3% 9.5%

October 2011 9.7% 8.9%

October 2012 8.7% 7.9%





(2011 $) 2011 45,973$ 50,054$

Poverty Rate 2007 13.6% 12.5%

2011 18.4% 15.0%


2011 19.2% 15.7%


The current unemployment rate (measured along the horizontal axis) serves as a gauge of current labor marketconditions faced by residents, while the proportion of jobs lost within Georgia since the start of the recession (shown

along the vertical axis) measures the toll the recession took on the job supply in Georgia.


Workers across the country were hard hit during the Great Recession. Although labor markets in many states havestarted recovering, employment in most states still remains below pre-recession levels. The chart below allows youto compare Georgia to other states using two metrics.

United States

Georgia

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Economic Overview And Outlook: Hawaii

Jobs

Employment

Earnings

Housing



Within the West census region, which includes Hawaii, sales of new single-family homes totaled 107,000 units in September2012, an increase of 3.9 percent from August. Sales of existing single-family homes increased 4.0 percent to 1,050,000units (at seasonally adjusted annual rates) from September to October 2012.

* For Hawaii-specific labor sector statistics, please refer to the Hawaii office: http://hawaii.gov/labor/

In Hawaii, initial claims for unemploymentinsurance benefits totaled 7,591 duringOctober, up 1.4 percent from the previousmonth. Since peaking at 11,570 in August2009, initial claims for unemploymentinsurance benefits have declined by 34.4percent.


In Hawaii, private sector employment fell by 8.5 percent from January 2008 to February 2010. Since February 2010, privatesector employment has grown by 5.0 percent.

In Hawaii, employees in the natural resources, mining, construction, trade, transportation and utilities, and manufacturingsectors faced the largest job losses (as a percent of employment within an industry) over the recession. Since the beginningof 2010, the following sectors in Hawaii have experienced the greatest employment increases: leisure and hospitality;professional and business services; and trade, transportation and utilities.*

The unemployment rate in Hawaii was 5.5percent in October 2012, up 2.5 percentage

points from December 2007, but down fromits most recent peak of 7.1 percent inDecember 2009.

36,000 residents were counted among theunemployed in Hawaii during October 2012.


Real per capita personal income (in 2005 $) in Hawaii was $38,036.90 in the 2nd quarter of 2012, up from $36,809.20 in the2nd quarter of 2010.


As of the 3rd quarter of 2012, 4.7 percent of all mortgages, including 19.4 percent of subprime mortgages, were inforeclosure in Hawaii.

Housing starts in Hawaii totaled 2,900 units (seasonally adjusted annual rate) in September 2012, an increase of 75.8percent from August.

In Hawaii, home prices have fallen by 16.8 percent over 20 quarters from their peak in the second quarter of 2007.

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How Does Hawaii Compare To Other States?

State Quick Facts

Hawaii United States


October 2010 6.8% 9.5%

October 2011 6.8% 8.9%

October 2012 5.5% 7.9%





(2011 $) 2011 59,047$ 50,054$

Poverty Rate 2007 7.5% 12.5%

2011 12.1% 15.0%


2011 7.8% 15.7%


The current unemployment rate (measured along the horizontal axis) serves as a gauge of current labor marketconditions faced by residents, while the proportion of jobs lost within Hawaii since the start of the recession (shown

along the vertical axis) measures the toll the recession took on the job supply in Hawaii.


Workers across the country were hard hit during the Great Recession. Although labor markets in many states havestarted recovering, employment in most states still remains below pre-recession levels. The chart below allows youto compare Hawaii to other states using two metrics.

United StatesHawaii

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Economic Overview And Outlook: Idaho

Jobs

Employment

Earnings

Housing



In Idaho, private sector employment fell by 9.9 percent from January 2008 to February 2010. Since February 2010, privatesector employment has grown by 4.8 percent.

In Idaho, employees in the mining, construction, and manufacturing sectors faced the largest job losses (as a percent ofemployment within an industry) over the recession. Since the beginning of 2010, the following sectors in Idaho haveexperienced the greatest employment increases: education and health services; mining; and manufacturing.*

The unemployment rate in Idaho was 7.0percent in October 2012, up 3.6 percentagepoints from December 2007, but down fromits most recent peak of 8.9 percent in July2011.

54,000 residents were counted among theunemployed in Idaho during October 2012.


Real per capita personal income (in 2005 $) in Idaho was $29,063.90 in the 2nd quarter of 2012, up from $28,425.20 in the2nd quarter of 2010.


As of the 3rd quarter of 2012, 2.8 percent of all mortgages, including 8.6 percent of subprime mortgages, were in foreclosurein Idaho.

Housing starts in Idaho totaled 6,890 units (seasonally adjusted annual rate) in September 2012, a decrease of 2.1 percentfrom August.

In Idaho, home prices fell by 26.0 percent over 13 quarters from their peak in the first quarter of 2008. Since the second

quarter of 2011, home prices in Idaho have risen by 1.3 percent.


Within the West census region, which includes Idaho, sales of new single-family homes totaled 107,000 units in September2012, an increase of 3.9 percent from August. Sales of existing single-family homes increased 4.0 percent to 1,050,000units (at seasonally adjusted annual rates) from September to October 2012.

* For Idaho-specific labor sector statistics, please refer to the Idaho office:

http://labor.idaho.gov/dnn/Default.aspx?tabid=696&AspxAutoDetectCookieSupport=1

In Idaho, initial claims for unemploymentinsurance benefits totaled 8,737 duringOctober, down 0.5 percent from theprevious month. Since peaking at 18,226in September 2010, initial claims forunemployment insurance benefits havedeclined by 52.1 percent.

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How Does Idaho Compare To Other States?

State Quick Facts

Idaho United States


October 2010 8.9% 9.5%

October 2011 8.6% 8.9%

October 2012 7.0% 7.9%





(2011 $) 2011 47,459$ 50,054$

Poverty Rate 2007 9.9% 12.5%

2011 15.7% 15.0%


2011 16.9% 15.7%


The current unemployment rate (measured along the horizontal axis) serves as a gauge of current labor marketconditions faced by residents, while the proportion of jobs lost within Idaho since the start of the recession (shown

along the vertical axis) measures the toll the recession took on the job supply in Idaho.


Workers across the country were hard hit during the Great Recession. Although labor markets in many states havestarted recovering, employment in most states still remains below pre-recession levels. The chart below allows youto compare Idaho to other states using two metrics.

United States

Idaho

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NetJob

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Economic Overview And Outlook: Illinois

Jobs

Employment

Earnings

Housing


As the economy continues its emergence from the Great Recession, service-providing industries are projected to add t

u.s. congress joint economic committee understanding the economy: state-by-state snapshots november...

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