Economic Outlook for 2013
As follows is a report sourced from the Bureau of Labor Statistics, the Congressional Budget Office, and government entities detailing fiscal projections, and a look at the current and projected Unemployment Rate, and the continuing economic recovery and baseline projections for fiscal year 2013.
According to the Bureau of Labor Statistics report dated October 2012, the Seasonally Adjusted Unemployment Rate is 7.9%. The Change in Unemployment Level is +170,000.
Although these numbers reflect an increase in unemployment, the numbers are actually down from last year, which saw an unemployment rate of 8.9% for 2011. Regional and state unemployment rates saw little change in October, 2012. Thirty-seven states and the District of Columbia recorded unemployment rate decreases, seven states posted rate increases, and six states had no change. Forty-two states and the District of Columbia registered unemployment rate decreases from a year earlier, while eight states experienced increases.
Regionally the West continues to record the highest regional unemployment rate in October, 9.0 percent, while the Midwest again reported the lowest rate, 7.3 percent. Nevada continued to record the highest unemployment rate among the states, 11.5 percent in October. Rhode Island and California posted the next highest rates, 10.4 and 10.1 percent, respectively. North Dakota again registered the lowest jobless rate, 3.1 percent. In total, 23 states reported jobless rates significantly lower than the
U.S. figure of 7.9 percent, 10 states had measurably higher rates, and 17 states and the District of Columbia had rates that were not appreciably different from that of the nation.