BY: Adam Gavriel
While trying to fill a very high-profile position in the Midwest, it would be best to know as much about your target area as possible.
A new report on BusinessWeek broke it down state by state noting that an index of over 50 justifies an expanding economy over the next three to six months.
Broken down state by state:
Arkansas: Arkansas’ overall index has dropped again, as it has for the past three consecutive months. Reporting a 51.8 in July after 60.2 in June. This dropping number has been caused by new entrants into the state workforce which have raised unemployment 0.4 percent.
Iowa: Iowa experienced a raise of 1.2 points in the index rising from 61.4 in June to 62.6 in July. Over the past three months Iowa has experienced declines in its workforce which has lowered its unemployment numbers.
Kansas: Kansas index numbers rose a full 2 points between June and July rising from 52.7 to 54.7. This was the 11thtime in the past year that Kansas has experienced growth in their index numbers. Kansas like Iowa has been experiencing decreasing numbers in it’s workforce, but unlike Iowa has seen increases in employment opportunities as well.
Minnesota: A personal favorite state of mine, Minnesota also experienced growth in its numbers rising from a 54.8 in June to a 57.5 in July. Unlike Kansas and Iowa however, Minnesota has experienced high growth in its workforce. This has been canceled out by the increasing employment which has kept the unemployment rate modest. Minnesota posted a very encouraging 6.7% unemployment rate in June.
Missouri: Like Arkansas, Missouri’s index dropped from June to July. Losing 2.6 points dropping from 54.5 in June to 51.9 in July. This drop was caused by the fact that Missouri is adding jobs at a very slow rate compared to other Midwest states. Unfortunately the dropping index points to continued slow growth of jobs in Missouri.
Nebraska: Nebraska, like Minnesota, has a very nice number to boast reporting a 57.1 in July up from 56 in June. Like many of it’s Midwestern brothers, Nebraska has experienced growth in employment lowering the unemployment rate. Nebraska’s unemployment rate in June was a very impressive 4.3%
North Dakota: If you know some trivia about North Dakota (hint: what its unemployment number is) you may not be surprised at this result. North Dakota’s index rose 10.7 points from June to July. Reporting a 44.4 in June North Dakota’s index rose to a 55.1 in July. In June, North Dakota’s unemployment was a nation leading 3.3% If I were a betting man, judging by the rise in North Dakota’s index (which has plenty to do with that unemployment number in June) I’d expect ND’s unemployment rate to remain very close to it’s beautiful 3.3%
South Dakota: South Dakota could not mirror its sister to the north having the index drop from June to July. Reporting a very healthy 60.7 in June, South Dakota’s index has dropped to 57 leaving Iowa as the only state in the Midwest reporting an index of over 60 points. Like the rest of its Midwest brothers and sisters, SD’s employment has grown proving that more and more workers are heading toward the Midwest looking for jobs.
All of the states in the Midwest reported a lower unemployment rate than the US average in June.