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Unemployment Rate Drops In Every State

On Wednesday, the Labor Department announced that every single state reported lower unemployment rates in 2014.

That hadn’t happened since 1984.

Illinois saw the most significant improvement in its unemployment rate, dropping by 2 percent, down to 7.1 percent. Colarado, North Carolina and Ohio weren’t far behind, each with a 1.8 percent decrease in unemployment.

North Dakota has the lowest jobless rate in the country, with only 2.8 percent of residents being unemployed, thanks to the recent energy boom.

Overall, the Unites States’ unemployment rate dropped to 6.2 percent in 2014, down 1.2 percent from 2013, the Wall Street Journal reported.

Though the U.S.’s economic growth remains strong overall, January and February have produced some less promising numbers.

Reuters reported the number of Americans filing for unemployment rose last week to its highest point since May 2014. Economists said the weather and a strike by petroleum refinery workers likely caused the increase.

"The underlying fundamentals of the economy remain solid, and there is no reason we won't continue to see the type of economic growth and job growth that we saw in 2014 continuing this year," said Gus Faucher, senior economist at PNC Financial Services Group.

The economy added more than 1 million jobs between November and January.

Sources: Wall Street Journal, Reuters / Image via t_s_l/Pixabay


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