Wednesday, March 4, 2009

Unemployment in the US

The New York Times is out with a couple of maps today depicting the state of the labor market in the US. (Hint: it's not great!) This one shows unemployment rates in every county.



They also show the change in unemployment from a year ago:



There are some other maps there as well which allow you to see that the two main areas that have been hit the hardest are those where the economy is dominated by manufacturing (in the midwest and the southeast) and those where the housing bubble reached oscenely bloated proportions (the east and west coasts). The Great Plains region and West Virginia have actually done pretty well so far; surprising, since these areas weren't exactly booming before the recession. But maybe that's the point: people were already trying to leave these areas, so it's not as if there was a housing bubble to pop in like Minot, North Dakota. And in those areas the labor market has been adjusting for decades - since the Dust Bowl, maybe - to a certain lack of economic dynamism, and the excess workers had long since already left.
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    Commodities (specifically, ags and coal) provided the support in employment in the Plains and WV.

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