Geography is Destiny: An Uneven Recovery

 

New York continues to suffer from high unemployment. The Bureau of Labor Statistics has new data that indicates that, of all the states, only New York had a “statistically significant over-the-year increase in its unemployment rate (+0.9%).”

New York isn’t alone in struggling. 

The West continued to record the highest regional unemployment rate in July, 9.4 percent, while the Midwest again reported the lowest rate, 7.5 percent. Over the month, three regions experienced statistically significant unemployment rate changes: the Northeast (+0.3 percentage point), Midwest (+0.2 point), and South (+0.1 point).

The BLS data shows that different states have wildly different employment pictures.  It also suggests that more urban states face a steeper climb than agrarian or suburban areas, where the recession was less severe and the recovery quicker.

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