Payrolls rose in most states in March led by Florida

20 April 2014 11 views No Comment

Dear Residents:

Please see article below in NorthJersey.com Bloomberg News on April 19, 2014 entitled:
“Payrolls rose in most states in March led by Florida”

Regards,

Mayor Frank Huttle III

Payrolls rose in most states in March, led by Florida

April 19, 2014 Last updated: Saturday, April 19, 2014, 1:21 AM

By SHOBHANA CHANDRA

BLOOMBERG NEWS

Wire Service

* As much of the country pushes straight ahead, New Jersey continues to flounder

Payrolls climbed in 34 states in March and unemployment rates fell in 21, showing the job market was making progress across much of the nation.

But in New Jersey, the economy is still struggling; last month the state shed 1,300 jobs, and unemployment rose to 7.2 percent.

Florida led the nation with a 22,900 job increase in payrolls, followed by North Carolina at 19,400, figures from the Labor Department on Friday showed.

Nationally, gains in hiring will probably help lift consumer confidence and spur household spending, which accounts for almost 70 percent of the economy. The Federal Reserve, in its latest Beige Book review of regional conditions, said the labor market was “generally positive.”

“Broadly, we are seeing improvement in the labor market,” said Michael Wolf, an economist at Wells Fargo Securities in Charlotte, N.C. “As the economy gains more momentum, employment increases and spending improves.”

Over the past two months, Florida’s payroll count has climbed by a combined 7,800, the biggest gain over a similar period since April-May 2010. Nonetheless, the jobless rate in the Sunshine State rose to 6.3 percent last month from 6.2 percent in February as almost 60,000 workers entered the workforce.

“Cold weather elsewhere is pushing people to the Sunshine State for some respite,” said Wolf. Combined with the late Easter holiday, “winter tourism in the state has been extended. Those business owners are seeing an uptick and are ramping up hiring accordingly.”

Highest and lowest

The unemployment rate in Ohio dropped to 6.1 percent, the lowest since April 2008, from 6.5 percent in February, today’s report showed. Missouri and New Mexico were among states with the biggest increases in joblessness last month.

Although unemployment in Rhode Island remained the highest in the country, it declined to 8.7 percent, its lowest level since September 2008, from 9 percent. Nevada was second-highest, with a rate of 8.5 percent, followed by Illinois at 8.4 percent.

North Dakota had the lowest unemployment in the nation, holding at 2.6 percent, where it’s been since January
– See more at: http://www.northjersey.com/news/business/jobs-gaining-elsewhere-1.999435#sthash.0qWka8nn.dpuf

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Payrolls rose in most states in March, led by Florida

www.northjersey.com

Payrolls climbed in 34 states in March and unemployment rates fell in 21, showing the job market was making progress across much of the world’s largest economy.

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