The unemployment rate reached a record low in the month of April and has persisted with the same rate in May. Presently standing at 3.6 percent, the unemployment rate is at its lowest in the last 50 years.
There are various reasons that are responsible for the reduction in the unemployment rate. Among others, the performance of some states in increasing the employment opportunities must be given due credit.
Below is the list of five states that have recorded the lowest unemployment rate for the month of May 2019:
Top 5 states recording the lowest unemployment rates for May 2019:
|
State |
April 2019 rate (%) |
Rank |
|
Vermont |
2.2 | 1 |
| North Dakota | 2.3 | 2 |
| Iowa | 2.4 | 3 |
| New Hampshire | 2.4 | 3 |
| Hawaii | 2.8 |
5 |
Vermont
The state with the lowest unemployment rate for the month of May is Vermont, which stands at 2.2 percent. This is considered to be the lowest ever figure for a state ever since the U.S. Bureau of Labor Statistics online historical series started in 1976.
In the last year, sectors such as durable manufacturing, accommodation & food services, and health and social assistance have been hiring a large number of people. The total workforce population of Vermont is 345,000, which in comparison to other states is a relatively small population. It has, nevertheless, managed to provide employment opportunities to most of the eligible job-seekers.
Click here to know more about Vermont’s unemployment benefits.
North Dakota
North Dakota’s incredible growth has resulted in elevating the state to reach the second position. With the unemployment at 2.3 percent, the state just fell behind Vermont by 0.1 percent.
Unemployment peaked in North Dakota in 2009 at 4.3 percent. The state managed to reduce 2 percentage points in the span of 10 years. The number of unemployed persons has also come down from 15,724 to 6,382. Click on the link to know about the UI benefits in North Dakota,
Iowa
Iowa, along with New Hampshire recorded the third lowest unemployment rate for the month of May. The state has an unemployment rate of 2.4 percent, which is second only to Vermont and North Dakota.
The number of people that are unemployed has dropped to 40,000, whereas the total workforce is over 1.7 million. Those who are looking for UI benefits in Iowa, check the Iowa Unemployment Benefits page.
New Hampshire
New Hampshire shares the third place with Iowa with a 2.4 percent unemployment rate for the month of May. The state is also regarded as one of the healthiest states to live in. It also has the second lowest crime rate in the United States.
With all these distinctions, New Hamshire is surely one of the most attractive destinations for both prospective employers and employees. Out of the civilian labor force of 764,000, around 18,910 people are yet to land a job in the state, while the remaining 745,090 are employed.
To those who are looking for UI benefits, check out the New Hampshire UI benefits page.
Hawaii
Hawaii, with a 2.8 percent unemployment rate, stands in the fifth position for the month of May. Although the state is facing some challenges in producing more jobs due to an economic slowdown, it has managed to keep most of its workforce employed.
The state’s workforce has a strength of over 670,000, out of which over 19,000 are still looking for a job.
The contribution of these states along with the others has led to the reduction of the unemployment rates to a historic low in the country. A more prolonged performance as this would help create a lot more jobs for future generations.