Unemployment rate holds at 4.0%

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Texas unemployment rates remained unchanged in November at 4.0 percent compared to October, with more than a half million people remaining unemployed.

Utah had the lowest jobless rate in November, 2.2 percent. The next lowest rates were in Minnesota and North Dakota, 2.3 percent each.

Unemployment rates were higher in November in 12 states, lower in 3 states and the District of Columbia, and stable in 35 states, the U.S. Bureau of Labor Statistics reported today. Thirty-six states and the District had jobless rate decreases from a year earlier, three states had increases, and 11 states had little change. The national unemployment rate, 3.7 percent, was unchanged over the month but was 0.5 percentage point lower than in November 2021.

Nonfarm payroll employment increased in 8 states and was essentially unchanged in 42 states and the District of Columbia in November 2022. Over the year, nonfarm payroll employment increased in 44 states and was essentially unchanged in six states and the District.

This news release presents statistics from two monthly programs. The civilian labor force and unemployment data are modeled based largely on a survey of households. These data pertain to individuals by where they reside. The employment data are from an establishment survey that measures nonfarm employment, hours, and earnings by industry. These data pertain to jobs on payrolls defined by where the establishments are located.

In November, 12 states had over-the-month unemployment rate increases, the largest of which were in Nevada and Oregon (+0.3 percentage point each). Three states and the District of Columbia had over-the-month decreases, the largest of which were in Maryland, New Mexico, and the District.

The largest jobless rate decrease from November 2021 was in New Mexico. The next largest decreases occurred in California and New Jersey. The largest over-the-year unemployment rate increase occurred in Oklahoma.

Nonfarm payroll employment increased in eight states and was essentially unchanged in 42 states and the District of Columbia in November 2022. The largest job gains occurred in Florida, Illinois, and Massachusetts. The largest percentage increase occurred in West Virginia, followed by New Hampshire and Massachusetts and Oklahoma.

Over the year, nonfarm payroll employment increased in 44 states and was essentially unchanged in six states and the District of Columbia. The largest job increases occurred in California, Texas, and Florida . The largest percentage increase occurred in Texas, followed by Florida and Hawaii, North Carolina, and Oregon.

The US U-6 unemployment rate shows November at 6.4 percent and is considered the real unemployment rate whcih measures the total number of employees in the United States that are a part of the labor force, but are without a job. The U-6 rate differs from the more commonly reported U-3 rate in that it also includes workers that are discouraged and underemployed, giving a better idea on how to US economy is functioning, since it captures a larger labor force.