This morning, employment data for June 2011 for all 50 states was released by the BLS. (CalculatedRisk has his usual unemployment rate ranking graph updated.) The following graphs provide an update on how each state has performed over the business cycle to date in terms of total nonfarm employment, on a seasonally adjusted basis.
The first graph shows both Oregon’s and Washington’s relative ranking in terms of year-over-year job growth. With the slowdown in Oregon’s employment over the past few months, our relative ranking has fallen in the most recent month (from 7th best in May to 14th best in June), however we remain a Top 15 state in terms of employment. Washington’s ranking remains 21st best.
The last two graphs compare how far each state fell during the recession and how much their employment has grown since they reached bottom. The calculations are based on each state’s respective peak employment month prior to the recession, each state’s employment trough during the depths of the recession and then how much each state has grown from their trough to June 2011. For example, Oregon’s employment peaked in February 2008 and the state lost employment until December 2009, after which time employment has been on an upward trend. Thus, the calculations for Oregon are what percentage of jobs were lost during the Feb 08 – Dec 09 period and what percentage of jobs were gained during the Dec 09 – Jun 11 period. The first graph is a reminder that Oregon experienced the 8th largest job loss during the recession, in terms of percentages.
The final graph illustrates what percentage of job growth each state has seen since their employment began growing again. With data through June, Oregon’s job rebound has been the 14th largest among all states plus Washington D.C. Oregon has experienced employment growth of 2.16 percent since employment reached bottom in the state. For comparison purposes, the nation has grown 1.37 percent and Washington has grown 1.53 percent.