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Tag Archives: unemployment rate

We need a new way to talk about labor markets in North Dakota

It is typical to celebrate low unemployment rates in North Dakota. While that may be something that worked in the past, the unemployment rate nationally is so low that this fails to be a point of distinction for the state. The persistent low level is also a potential issue. The fact the rate remained low for so long should provide some concern. It is too low to attract some businesses and some labor. We need to reframe the discussion a bit. For example, are we interested in...

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ND July Unemployment Rate

Those that read this blog regularly or listen to my appearances on the Jarrod Thomas Show know that I do not find unemployment to be a very informative metric for North Dakota. A primary reason for this is that North Dakota is clearly a labor constrained state. Countless pieces of data over many years makes this abundantly clear. The supposed lack of labor market adjustment to this persistent outcome is a whole different story for another day. The latest data for unemployment...

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ND County Unemployment Rates, May 2019

Unemployment is one of the most frequently discussed economic statistics though it is of questionable value in terms of economic forecasting or even as any kind of indicator right now. The labor markets are so strong there really seems to be little value to the measure right now. It is also through contrast or consistency over time that the measure is of the most value. Rolette County is the high outlier in the state right now. There are two very cool spots in the state right...

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North Dakota Unemployment Rate, April 2019

North Dakota’s unemployment rate is too low, or so I maintain. The extremely low level is an issue for firms thinking about locating into North Dakota. They would need to bid up wages to lure workers. The April data by county for North Dakota seems to suggest that unemployment rates remain low. For the most part the rates are low across the state, especially in the major metropolitan regions. Rolette county is a bit higher than other parts of the state. The unemployment rate in...

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