Goldilocks Rocks in NM, TX, LA, AL, AZ and ID
6 reasons the U.S. economy is not going into a recession:
1. New Mexico's jobless rate fell to an historical record low of 3.1% in October (see chart above, click to enlarge), according to state labor market data released today by the BLS. October's rate of 3.1% was almost 3.8% below New Mexico's average unemployment rate of 6.9% from 1976-2007.
2. Texas' October jobless rate of 4.1% was also an historical record low that matched the May and June 2007 rates of 4.1%.
3. The October unemployment rate in Louisiana dropped to match a record low of 3.3% that was first achieved in July 2006.
4. As I reported earlier, Alabama's unemployment rate of 3.1% established a new historical record low in October 2007.
5 and 6. Arizona and Idaho both set record low unemployment rates in September 2007 (3.3% and 2.3% repsectively).