Some are Hot and Others Not, But All are Positive — State Employment Growth August 2019

All 50-states and the District of Columbia posted a net increase in the total number of jobs in the 12-months ending August 2019.  The following table shows the percentage gain in net new jobs.  The percentage gain varied from a high of 3.03 percent in Nevada to a low of 0.05 percent in Louisiana.  In comparison, the average annual compound job growth rate for the U.S. averaged 1.40 percent in the past 40 years.

The greatest increase in net new jobs by state are shown in the following table.   The 10 states creating the most net new jobs accounted for two-thirds of U.S. job growth (65.7 percent) but made up just one-half (48.8 percent) of all jobs in the country.  More than one-half of the states combined created less than 10 percent of all new jobs.

The last table, sorted by 12-month job growth rates, also includes percentage job growth for 2-, 5- and 10-year periods.  While Utah ranked second in 12-month percentage growth, it posted the best 10-year gain overall.  At the other end of the spectrum was West Virginia, that despite adding 5,100 jobs in the latest 12-months (up 0.70 percent), lost 1.20 percent of the total jobs in the past 10-years.

Jobs are everything to an economy and the ultimate demand for real estate.  Period.  Some states are better than others, and some continue to struggle.


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