There have been signs of economic growth this month. Earlier in the month we learned that as of December 2011, the national jobless rate was at 8.5 percent, a rate that’s continued to trend down since February 2009.

Yet not all states are created equal when it comes to economic recovery. Some states weathered the recession better than others. And while most states have seen a decline in unemployment post-recession, others have dealt with fluctuating jobless rates. According to the Bureau of Labor Statistics’ recent breakdown of regional and state unemployment numbers for December 2011, the most recent figures available, “Twenty-four states reported jobless rates significantly lower than the U.S. figure of 8.5 percent, eight states and the District of Columbia had measurably higher rates, and 18 states had rates that were not appreciably different from that of the nation.”

In taking a closer look at which states are on the road to recovery and which ones are still hitting speed bumps, we first reviewed each state’s unemployment rates as of December 2011. Also examined were trends in joblessness — whether it’s been on the decline and the rate in which it’s declining — and other factors such as foreclosures and household income. Here’s a look at some of the best and worst states for job seekers.

Best state unemployment rates*

1. North Dakota
Why: During the recession, North Dakota’s unemployment rate peaked at 4.3 percent in 2009, a rate that was still significantly lower than the national average. The rate hasn’t gone above 4 percent since April 2010.
Unemployment rate: 3.3 percent

2. Nebraska
Why: Nebraska was the state with the second lowest unemployment rate in December 2011, at 4.1 percent. It also experienced statistically significant employment changes from December 2010 to December 2011, with a job gain of 13,100.
Unemployment rate: 4.1 percent

3. South Dakota
Why: South Dakota had one of the lowest pre-recession unemployment rates in the country — just 2.8 percent in December 2007. Its current jobless rate is still well under the national average. In addition, it saw a statistically significant employment change from November to December 2011, with a job gain of 4,600.
Unemployment rate: 4.2 percent

4. New Hampshire
Why: New Hampshire’s unemployment rate is 3.4 percent lower than the national average. What’s more, according to statistics released by the U.S. Census Bureau, New Hampshire has the highest median household income in the U.S., at $66,303**.
Unemployment rate: 5.1 percent

5. Vermont
Why: Vermont’s December 2011 unemployment rate was 5.1 percent, and it has experienced a statistically significant year-over-year unemployment rate change of -0.7 percent. It also ranks in the top 15 in median household income, according to the U.S. Census Bureau.
Unemployment rate: 5.1 percent

6. Iowa
Why: Iowa’s unemployment rate of 5.6 percent is at its lowest level since June 2009. According to the state, Iowa has added 13,300 total jobs compared to a year ago.
Unemployment rate: 5.6 percent

7. Minnesota
Why: This Midwest state has experienced statistically significant year-over-year employment changes from December 2010 to December 2011, with a job gain of 26,300. Its current unemployment rate is the lowest it’s been since September 2008.
Unemployment rate: 5.7 percent

8. Wyoming
Why: After hitting its unemployment rate peak at 7.7 percent in late 2009, the rate has continued to trend downward and is currently 2.7 percent lower than the national average. Additionally, Wyoming has the lowest unemployment rate in the Western region.
Unemployment rate: 5.8 percent

9. Utah
Why: Utah saw statistically significant employment changes from December 2010 to December 2011, with a job gain of 36,000.
Unemployment rate: 6 percent

10. Oklahoma
Why: Although Oklahoma’s unemployment rate has hovered at 6.1 percent since October 2011, it did have a statistically significant employment change year-over-year from December 2010 to December 2011, with a job gain of 41,600.
Unemployment rate: 6.1 percent

Worst state unemployment rates

1. Nevada
Why: Nevada has the worst unemployment rate in the country, at 12.6 percent. It also saw a statistically significant employment change of -9,800 from November to December 2011. To rub salt in the wound, Nevada topped RealtyTrac’s list of state foreclosure rates in 2010.
Unemployment rate: 12.6 percent

2. California
Why: While California’s unemployment rate did decrease by 0.2 percent from November to December 2011, its rate of 11.1 percent is still 2.6 percentage points higher than the national rate. According to RealtyTrac, California’s December 2011 foreclosure rate was one of the highest in the nation.
Unemployment rate: 11.1 percent

3. Rhode Island
Why: Rhode Island has the worst unemployment rate in New England. It’s also one of the three states where unemployment increased in December.
Unemployment rate: 10.8 percent

4. Mississippi
Why: According to the U.S. Census Bureau, Mississippi has the lowest median household income, at $36,850. Its unemployment rate also experienced an increase from a year prior.
Unemployment rate: 10.4 percent

5. District of Columbia
Why: While the District of Columbia isn’t a state, it’s still worth including on the list given its high unemployment rate. Its unemployment rate actually increased from a year earlier, going from 9.6 percent in December 2010 to 10.4 percent in December 2011.
Unemployment rate: 10.4 percent

6. North Carolina
Why: North Carolina has the highest unemployment rate in the South Atlantic, excluding the District of Columbia. Its December 2011 unemployment rate of 9.9 percent is 1.4 percent above the U.S. average.
Unemployment rate: 9.9 percent

7. Florida
Why: While Florida’s unemployment rate is on the decline, it’s still the seventh highest unemployment rate in the country. Plus, it had one of the highest 2010 foreclosure rates, according to RealtyTrac.
Unemployment rate: 9.9 percent

8. Illinois
Why: According to Business Insider, Illinois is one of the top 10 states with the most foreclosures in 2010, with 151,304 foreclosures last year.
Unemployment rate: 9.8 percent

9. Georgia
Why: While the state’s unemployment rate was down for the third consecutive month, the state labor department disclosed that metro Atlanta’s unemployment rate rose to 9.4 percent in December from 9.2 percent in November. Georgia also experienced the third-largest over-the-year percentage decrease in employment of -0.4 percent.
Unemployment rate: 9.7 percent

10. South Carolina
Why: South Carolina’s median household income of $42,059 is the seventh lowest in the nation, according to the U.S. Census Bureau. Its unemployment rate hasn’t been below 9 percent in three years.
Unemployment rate: 9.5 percent

*Unless otherwise noted, data was pulled from the BLS. 

**Median household income (In 2010 Inflation-adjusted dollars) by state ranked from highest to lowest Using three-year average:  2008-2010.

Courtesy: The Work Buzz

All eyes were on President Obama last night as he delivered what was potentially his final State of the Union address. One of the central issues discussed in his speech? Jobs. And rightly so.

Though Obama cited recent improvements in the job market – the country has regained more than 3 million jobs in the last 22 months – it’s also clear that we still have a ways to go. After all, 3 million jobs in 22 months comes out to roughly 136,000 jobs per month. Economists believe it will take the addition of at least 250,000 jobs per month to begin bringing unemployment back to pre-recession levels.

Luckily, the President announced a number of viable measures that, if carried out as planned, will both create new jobs, and retrain workers for the jobs that are available. Here, a recap of the employment-related actions announced last night, and why they’re important to American workers.

1. The goal: Return outsourced jobs to the U.S.    

The President said:“Tonight, my message to business leaders is simple: Ask yourselves what you can do to bring jobs back to your country, and your country will do everything we can to help you succeed … Right now, companies get tax breaks for moving jobs and profits overseas. Meanwhile, companies that choose to stay in America get hit with one of the highest tax rates in the world. It makes no sense, and everyone knows it … My message is simple. It’s time to stop rewarding businesses that ship jobs overseas, and start rewarding companies that create jobs right here in America.”

Why it’s important: In April 2011, the Wall Street Journal researched the outsourcing practices of some of the top corporations in the U.S., and found that, while the companies had cut more than 2.9 million jobs stateside since 2000, they’d added 2.4 million jobs overseas in the same time period.

2. The goal: Reskill American workers for in-demand jobs.

The President said: “[I hear] from many business leaders who want to hire in the United States but can’t find workers with the right skills. Growing industries in science and technology have twice as many openings as we have workers who can do the job. Think about that — openings at a time when millions of Americans are looking for work. Join me in a national commitment to train two million Americans with skills that will lead directly to a job … You need to give more community colleges the resources they need to become community career centers — places that teach people skills that local businesses are looking for right now, from data management to high-tech manufacturing.”

Why it’s important: According to CareerBuilder’s 2012 hiring forecast, which was based on a survey of more than 3,000 hiring managers, 26 percent of employers reported that they currently had job openings for which they could not find qualified workers. The areas they had the most trouble filling? High-skills jobs like IT and engineering. Retraining job seekers for the positions that employers need to fill is the surest way to close the skills gap, and make a dent in the unemployment rate.

3. The goal: Encourage small business growth.

The President said: “Innovation is what America has always been about. Most new jobs are created in start-ups and small businesses. So let’s pass an agenda that helps them succeed. Tear down regulations that prevent aspiring entrepreneurs from getting the financing to grow. Expand tax relief to small businesses that are raising wages and creating good jobs.”

Why it’s important: As Obama pointed out, most jobs are created by small businesses. According to the Small Business Administration, “Small firms accounted for 65 percent (or 9.8 million) of the 15 million net new jobs created between 1993 and 2009.” It’s imperative for the job market, then, that small businesses have access to the resources they need to expand, and feel secure enough to do so.  

Although it remains to be seen how well, and how quickly, these plans will take form, we think it’s reassuring to hear the Administration seems to be on a logical and sustainable path towards lowering the unemployment rate. What do you think?  

Courtesy: The Work Buzz