Is you want an opinion on whether or not the recession is over, you are bound to get different answers, depending on who you ask and in what state they reside. Why? Unemployment is a major consideration in the health of the economy, and there are 5 states where the unemployment rate was below the national rate of 4 percent, as reported in the month of June.
States where the unemployment rate is below 4 percent...
The national unemployment rate is 4 percent, according to the U.S. Bureau of Labor Statistics (BLS). However, that same source identifies five states that are doing better than the national average, reporting unemployment rates below 4 percent.
- North Dakota - 2.7%
- Nebraska - 3.5%
- Utah - 3.5%
- Vermont - 3.5%
- South Dakota - 3.8%
Wyoming came in at #6 at just 4.0 percent.
Good, but not good enough
According to 24/7 Wall Street who publishes financial news and opinions over the Internet, in order to have a recovered economy, the jobless rate would need to be 5 percent across the board, and it isn't. The jobless rate remains high in poorer states like Mississippi and Kentucky, and in other states where industries such as financial services, factory production and real estate collapse has dealt these areas a painful financial blow.