|State Employment, Top 10 by Annual % Increase|
|State||July 2010||July 2011||% Change|
The BLS released data today
for July state employment and unemployment. Thanks to its ongoing oil boom (see recent CD post
"More Records for North Dakota's Booming Oil Economy), North Dakota led the country with the greatest year-over-year job growth at 5.25%, slightly more than double the 2.6% job growth in second-place Texas (see chart above). North Dakota also leads the country with the lowest July jobless rate
of 3.3%, far below the national rate of 9.1% and almost a full percentage point below second-place Nebraska at 4.1%. Texas wasn't even close at 8.4%, ranking 27th in the country for July jobless rates.
North Dakota also led the country with a 6.9% growth in personal income
for the first quarter of 2011, much higher than the 2.6% growth for the next two states: Wyoming and Texas. In 2010, North Dakota was the state with the highest growth in real state GDP at 7.1%, far ahead of second -place New York at 5.1%, and more than twice the 2.8% rate in Texas.
: See Catherine Rampell's post today at the Economix blog titled "The North Dakota Miracle
," which starts with "Forget the Texas Miracle. Let's instead look at North Dakota..."