Drop in unemployment rate would improve consumer sentiment
The latest economic and jobs market data shows that there has been a significant drop in the unemployment rate in Ohio, California, Texas and many other states.
On Friday, the Ohio Department of Job and Family Services released its data that showed that the unemployment rate dropped from 5.7% in August to 5.6% in September. This drop can be attributed to the fact that there has been an increase in the nonfarm wage and salary employments. Earlier, the number was 5,297,400 and has now reached at 5,303,400, in September.
California's unemployment rate has also fallen to 7.3% in September. This is a drop of 0.1% from August. The California Employment Development Department's report, which was released on Friday, stated that the jobless rate has continued to decline ever since the economic recovery began in 2010.
The Labor Market Information Division report released on Friday shows that the local unemployment is 6.5% which is a drop of 0.7% from August to September.
Humboldt County's unemployment rate was 8% in September 2013, and this year it is down by almost 1.5%. Industries with job growth include construction, trade, transportation and utilities and government
Industries that have seen a job growth include construction, trade, transportation and utilities and government.
Sheila Stock, research analyst with a local financial services company, said, "Government saw an increase in 200 jobs in local government and state government organization. In the trade, transportation and utilities sector, much of the 100 jobs gained were in retail jobs".