From the course: Economics for Everyone: Job Markets and the Economy
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Unemployment at the state level
From the course: Economics for Everyone: Job Markets and the Economy
Unemployment at the state level
- The health of the job market, the unemployment benefits you receive, and some of the personal income tax you pay can vary greatly by state. This is why it's important to be familiar with state-level data, so that you can identify where there's a lot of opportunity, or where there might be a lack of opportunity. So is the unemployment rate the same in every state? No, of course not. And that's true whether a country has states or provinces or territories, and it's just as true in the United States as it is in Mexico, Germany, or Australia. The truth is that countries are not just one thing when it comes to the labor market, unless the country is usually really small. As for examples, back in July 2020, the unemployment rate across states in the US varied greatly, with the lowest level at 4.5% in Utah, and the highest level at 16.1% in Massachusetts. That's a really big range, and you can see that Utah probably would…
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